What is the correct answer?


Arrange the steps of accounting in sequential order -
(i) Trial Balance;
(ii) Journal Entry;
(iii) Balancing of Accounts;
(iv) Ledger Posting.

A. (i),(ii),(iii),(iv)

B. (ii),(iii),(iv),(i)

C. (ii),(iv),(i),(iii)

D. (ii),(iv),(iii),(i)

Correct Answer :

D. (ii),(iv),(iii),(i)

Related Questions

Trial Balance is prepared after the preparation of Profit and Loss Account. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an According to the Concept of Conservatism, an accountant should All credit sales are recorded in WDV stands for A part of the profit distributed to the shareholders is known as In Double Entry System of Book Keeping, the total of Debit balances may… Cash payments are recorded on the _______________ of the Cash Book. WIP stands for Depreciation cannot be provided in case of loss, in a financial year. The life span of a company is dependent on the life span of the Sale of Office Furniture should be credited to Sales Account. Which of the following equation(s) is(are) true The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and… Fixed Assets are stated in the balance sheet at their market value. Copyright is an example of Depreciation is not charged on _______________. Net Realisable Value of an asset means Arrange the steps of accounting in sequential order - (i) Trial Balance;… The first step of accountancy is E. & O.E. Goodwill is not a fictitious asset. The short description of a transaction written at the end of a journal… The aggregate of direct material, direct labour and direct expenses is… Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash… If the totals of debit and credit columns of a Trial Balance are equal,… Any type of error affects the agreement of Trial Balance. Business ventures, which are started for a predefined period, are known… Bank Reconciliation statement is prepared to arrive at the Bank Balance. Deferred Revenue Expenditure is current year's revenue expenditure to…