Caterpillar announced plans to cut its production of construction equipment due to forecasted increases in steel prices. by discovering the problem with product inputs and letting customers know that its output will fall short, caterpillar used controls.

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.