Chapter 2 - Accounting Information System Flashcards by Isa Byczek | Brainscape

Q

step 1 APC

A

identify transactions or events to be recorded

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

step 2 APC

A

record journal entries

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

step 3 APC

A

post journal to ledger

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

step 4 APC

A

prepare unadjusted trial balance

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

step 5 APC

A

adjusting journal entries

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

step 6 APC

A

prepare adjusted trial balance

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

step 7 APC

A

prepare financial statements

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

step 8 APC

A

record closing journal entries

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

step 9 APC

A

prepare post-closing trial balance

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

external events

A

between a business and its environment

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

internal events

A

entirely within the business

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

in a deferral, cash is received…

A

first

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

in an accrual, cash is received…

A

later

How well did you know this?

1

Not at all

2

3

4

5

Perfectly