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Exam (elaborations)

FAC1501 Assessment 1 semester 2 due 7 august 2023

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This document contains multiple solutions to Fac1501 assessment 1 semester 2 due on 7 august 2023, using this document will ensure a 90+ distinction.

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August 3, 2023
Number of pages
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Written in
2023/2024
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, 8/3/23, 4:08 PM Assessment 1 (page 1 of 2)


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The following are some of the steps which are taken in the monthly routine of recording financial transactions:
(1) Post to the general ledger.
(2) Extract a trial balance.
(3) Record a transaction on a source document.
(4) Balance the general ledger accounts.
(5) Enter data from source documents into the appropriate subsidiary journal.
The correct order in which these steps should take place is as follows:

Select one:
a. (5), (3), (2), (1), (4)
b. (2), (4), (1), (5), (3)
c. (1), (3), (4), (2), (5)
d. (3), (5), (1), (4), (2)

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