Which of the following is not a step in the accounting process? Record relevant transactions and events in a journal. Post journal information to the ledger accounts. Prepare and analyze the trial balance. Analyze each transaction. Verify that revenues and expenses are equal.

Question

Business

Midge

30 December, 17:56

Which of the following is not a step in the accounting process? Record relevant transactions and events in a journal. Post journal information to the ledger accounts. Prepare and analyze the trial balance. Analyze each transaction. Verify that revenues and expenses are equal.

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Answers (1)

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Arnav Hanna · Answer 1

Answer: Analyze each transaction

Explanation: Accounting process refers to the process that starts with the transactions, that have some monetary aspect and lasts at books closing.

The analysis is done after the books are closed and it is not done for individual transactions. Rather the analysis is performed on the summarized information prepared by the accountant.

Hence from the above we can conclude that the correct answer is statement is C.