Question

Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a(n) __________ process.

Answer 1

Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a (n) accounting process.

The accounting process is the set of steps that allows the economic operations of an entity or company to be expressed through financial statements.

This process is essential for any company since they will be able to see their expenses and income, and thus make projections and help it to minimize entry errors of the company.

• During the accounting process, the economic operations of the company are compiled (purchases of materials, sales of products), together with the documents that guarantee each operation.

• Finally, before the accounting process is closed, adjustments or modifications can be made that allow a reliable balance.

Therefore, we can conclude that Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a (n) accounting process.  

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