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The basic sequence in the accounting process can best be described as, please select one option from given below?

  1. Transaction→journal entry→source document→ledger account→trial balance.
  2. Source document→transaction→ledger account→journal entry→trial balance.
  3. Transaction→source document→journal entry→trial balance→ledger account.
  4. Transaction→source document→journal entry→ledger account→trial balance.

MIS Auditing Financial Accounting IFRS Tally ERP
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Question added by Anil Lalwani , Chief Accountant , Al Ahli Hospital
Date Posted: 2016/10/22
Upvote (0) Views (31) Followers (5) Answers (4) Report Question
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Zeeshan Ali CA ACCA CIPFA
by Zeeshan Ali CA ACCA CIPFA , Tax Manager , INSPIRE MS TAX CONSULATANCY

 

Transaction→source document→journal entry→ledger account→trial balance.

 

Mahalakshmi Venugopal
by Mahalakshmi Venugopal , Commercial Coordinator , Chalmers Marine Engineering

The basic sequence in accounting process is as followed.

Transaction - Source Document - journal entry - ledger account - trial balance.

kamran khalid
by kamran khalid , Head Of Finance , Pace College

Source doc -transaction-ledger ac-general entry -trial balance

Tamer Elbeshbishy
by Tamer Elbeshbishy , Financial and Administration Manager , Muscat Towers Holding Group

Answer 4 is the only correct one

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