What is an example of a transaction that would be a step in an accounting cycle? tracking employee’s sick days paying for employee training seminars determining product efficiency deciding which website host to use

Answer 1

An example of a transaction that would be a step in an accounting cycle is paying for employee training seminars. This transaction would be recorded as an expense in the accounting records and would affect the financial statements. It involves recognizing the cost and understanding its impact on the company's financial position, which is a crucial part of the accounting cycle.

The other options, such as tracking employee sick days, determining product efficiency, or deciding on a website host, do not directly involve financial transactions that would be recorded in the accounting cycle.