TEST BANK FOR Fundamental Accounting Principles by John Wild, Ken Shaw and Barbara Chiappetta 21st Edition
Chamberlian School of Nursing
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Exam (elaborations) TEST BANK FOR Fundamental Accounting Principles by John Wild, Ken Shaw and Barbara Chiappetta 21st Edition (1)
- Exam (elaborations) • 119 pages • 2021
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1. The first step in the processing of a transaction is to analyze the transaction and source documents. 
TRUE 
AACSB: Communication 
AICPA BB: Industry 
AICPA FN: Decision Making 
Blooms: Remember 
Difficulty: 1 Easy 
Learning Objective: 02-C1 Explain the steps in processing transactions and the role of source documents. 
Topic: Processing Transactions 
Wild - Chapter 02 #1 
2. Preparation of a trial balance is the first step in the analyzing and recording process. 
FALSE 
AACSB: Communication ...
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