Question

the accounting concept that uses source documents when preparing to record a transaction is called: double - entry accounting double - line rule objective evidence chronological record question 16 3 pts choose the answer. what is the first step used when journaling a transaction entry? record the date. record the source document. record the debit amount. record the credit amount.

Explanation:

• For the first question: The objective evidence concept in accounting requires that financial transactions be supported by objective (verifiable) evidence. Source documents (like invoices, receipts) provide this evidence. Double - entry accounting is about recording transactions with debits and credits. Double - line rule is used in accounting for formatting (e.g., to show totals). Chronological record is about recording transactions in the order they occur.
• For the second question: When journaling a transaction entry, the first step is to record the date. This helps in organizing and dating the transaction. Recording the source document is related to the objective evidence concept but is not the first step in journaling. Recording debit and credit amounts comes after identifying the accounts and their nature (which is also after recording the date).

Answer:

• First question: objective evidence
• Second question: Record the date.