53. The accounting cycle is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:53. The accounting cycle is:
the length of time it takes to complete a
set of financial statement after the books
are closed.
a process that begins with adjusting
entries and ends with the preparation of
the financial statements.
applicable only to manual systems, not to
computerized systems.
the sequence of procedures used by a
O business to process economic information
and to produce financial statements.
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