In the following topic sentence, which part is the reminder？A further disadvantage is the traffic problems that they cause in many cities and towns of the world（）
A. further
B. disadvantage
C. traffic problems
D. the world
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A company forgot to record accrued and unpaid employee wages of $350,000 at period-end. This oversight would（）
A. Understate net income by $350,000
B. Overstate net income by $350,000
C. Have no effect on net income
D. Overstate assets by $350,000
E. Understate assets by $350,000
A journal provides（）
A. the balances for each account
B. information about a transaction in several different places
C. a list of all accounts used in the business
D. a chronological record of transactions
A complete journal entry does not show（）
A. the date of the transaction
B. the new balance in the accounts affected by the transaction
C. a brief explanation of the transaction
D. the accounts and amounts to be debited and credited
The first step in the recording process is to（）
A. prepare financial statements
B. analyze each transaction for its effect on the accounts
C. post to a journal
D. prepare a trial balance
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