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What is the last step in the account cycle?

What is the last step in the account cycle?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the last step in the account cycle?

Review the steps in the accounting cycle and answer the following questions: 1. What is the first step? 2. Are any steps optional? 3. Which steps are completed throughout the period? 4. Which steps are completed only at the end of the period? 5. What is the last step in the accounting cycle? 1. What is the first step? The first step in the accounting cycle is to 2. Are any steps optional? In the accounting cycle, optional. 3. Which steps are comp completing the worksheet is O A. Journalizing the t O B. Journalizing and Oc. Journalizing and O D. Journalizing the t no steps are posting to the accounts is preparing the adjusted trial balance is ents. 4. Which steps are completed only at the end of the period? O A. Completing the worksheet, preparing the financial statements, and closing the accounts. O B. Adjusting the accounts, preparing the financial statements, and closing the accounts. OC. Posting to the accounts, preparing the financial statements, and closing the accounts. O D. None of the above. 5. What is the last step in the accounting cycle? The last step in the accounting cycle is to
Transcribed Image Text:Review the steps in the accounting cycle and answer the following questions: 1. What is the first step? 2. Are any steps optional? 3. Which steps are completed throughout the period? 4. Which steps are completed only at the end of the period? 5. What is the last step in the accounting cycle? 1. What is the first step? The first step in the accounting cycle is to 2. Are any steps optional? In the accounting cycle, optional. 3. Which steps are comp completing the worksheet is O A. Journalizing the t O B. Journalizing and Oc. Journalizing and O D. Journalizing the t no steps are posting to the accounts is preparing the adjusted trial balance is ents. 4. Which steps are completed only at the end of the period? O A. Completing the worksheet, preparing the financial statements, and closing the accounts. O B. Adjusting the accounts, preparing the financial statements, and closing the accounts. OC. Posting to the accounts, preparing the financial statements, and closing the accounts. O D. None of the above. 5. What is the last step in the accounting cycle? The last step in the accounting cycle is to
Review the steps in the accounting cycle and answer the following questions: 1. What is the first step? 2. Are any steps optional? Which steps are completed throughout the period? Which steps are completed only at the end of the period? What is the last step in the accounting cycle? 3. 4. 5. 1. What is the first step? The first step in the accounting cycle is to 2. Are any steps optional? analyze and journalize transactions as they occur In the accounting cycle, post to the accounts 3. Which steps are completed throughout 1 prepare the unadjusted trial balance O A. Journalizing the transactions and p start with the beginning account balances B. Journalizing and posting the adjusting entries. Oc. Journalizing and posting the closing entries. O D. Journalizing the transactions and preparing the financial statements. 4. Which steps are completed only at the end of the period? O A. Completing the worksheet, preparing the financial statements, and closing the accounts. B. Adjusting the accounts, preparing the financial statements, and closing the accounts. OC. Posting to the accounts, preparing the financial statements, and closing the accounts. O D. None of the above. 5. What is the last step in the accounting cycle? The last step in the accounting cycle is to
Transcribed Image Text:Review the steps in the accounting cycle and answer the following questions: 1. What is the first step? 2. Are any steps optional? Which steps are completed throughout the period? Which steps are completed only at the end of the period? What is the last step in the accounting cycle? 3. 4. 5. 1. What is the first step? The first step in the accounting cycle is to 2. Are any steps optional? analyze and journalize transactions as they occur In the accounting cycle, post to the accounts 3. Which steps are completed throughout 1 prepare the unadjusted trial balance O A. Journalizing the transactions and p start with the beginning account balances B. Journalizing and posting the adjusting entries. Oc. Journalizing and posting the closing entries. O D. Journalizing the transactions and preparing the financial statements. 4. Which steps are completed only at the end of the period? O A. Completing the worksheet, preparing the financial statements, and closing the accounts. B. Adjusting the accounts, preparing the financial statements, and closing the accounts. OC. Posting to the accounts, preparing the financial statements, and closing the accounts. O D. None of the above. 5. What is the last step in the accounting cycle? The last step in the accounting cycle is to
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