The Accounting Process

Stage 1 of the Accounting process is

• advice

• record

• report

• source documents

Stage 4 of the Accounting process is

• source documents

• advice

• report

• record

Stage 2 of the Accounting process is

• record

• source documents

• report

• advice

Stage 3 of the Accounting process is

• record

• source documents

• advice

• report

Journals, ledgers and Inventory cards are in what stage of the Accounting process?

• stage 1

• stage 2

• stage 3

• stage 4

Cash Flow Statement, Income Statement and Balance Sheet are all in what stage of the Accounting Process

• stage 1

• stage 2

• stage 3

• stage 4

Cheque Butts, Invoices, Memos and Receipts are all in what stage of the Accounting Process?

• stage 4

• stage 2

• stage 1

• stage 3

An exchange of goods or services with another party is best called in accounting a

• barter system

• swapping goods

• a sale

• a transaction

Evidence that a transaction has occurred is

• when you have the item

• when money comes out of your account

• a source document

• is when you use or consume the item

The correct Accounting Process is

• record, source document, report, advice

• source document, report, record, advice

• source document, advice, record, report

• source document, record, report, advice