receipts, sales slips, and other related evidence concerning specific transactions. She has also recorded each financial transaction in a journal and transferred that information into a ledger. What must Maya do before preparing the financial statements? A) She must check her journal for mistakes. B) She must recheck all her source documents. C) She must prepare a trial balance. D) She must throw away her ledger and start over. E) She must attest that she used generally accepted accounting principles.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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8) Maya owns a bakery. She has already gathered and examined the checks, credit card
receipts, sales slips, and other related evidence concerning specific transactions. She has
also recorded each financial transaction in a journal and transferred that information into
a ledger. What must Maya do before preparing the financial statements?
A) She must check her journal for mistakes.
B) She must recheck all her source documents.
C) She must prepare a trial balance.
D) She must throw away her ledger and start over.
E) She must attest that she used generally accepted accounting principles.
Transcribed Image Text:8) Maya owns a bakery. She has already gathered and examined the checks, credit card receipts, sales slips, and other related evidence concerning specific transactions. She has also recorded each financial transaction in a journal and transferred that information into a ledger. What must Maya do before preparing the financial statements? A) She must check her journal for mistakes. B) She must recheck all her source documents. C) She must prepare a trial balance. D) She must throw away her ledger and start over. E) She must attest that she used generally accepted accounting principles.
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