All of the following are required steps in the accounting cycle except: Select one:

a. journalizing and posting closing entries.

b. preparing an adjusted trial balance.

c. preparing a post-closing trial balance.

d. prepare financial statements from the unadjusted trial balance.

Question

Social Studies

Damaris Matthews

2 May, 15:47

All of the following are required steps in the accounting cycle except: Select one:

a. journalizing and posting closing entries.

b. preparing an adjusted trial balance.

c. preparing a post-closing trial balance.

d. prepare financial statements from the unadjusted trial balance.

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Answers (1)

Know the Answer?

Karsyn Savage · Answer 1

Preparing a post-closing trial balance.

Answer: Option C

Explanation:

The accounting cycle is a step wise procedure that a company has to follow to complete a bookkeeping task. It is important to record, analyze and produce a final report on the financial activity of a business.

The important steps in the accounting cycle are Identifying transactions, to maintain record transactions in a journal, posting in general ledger, unadjusted trial balance, a worksheet to check if the credit and debit are equal, adjusting journal entries, generating financial statement and closing the books.

All of the following are required steps in the accounting cycle except: Select one:a. journalizing and posting closing entries.b. preparing an adjusted trial balance.c. preparing a post-closing trial balance.d. prepare financial statements from the unadjusted trial balance.

All of the following are required steps in the accounting cycle except: Select one:

a. journalizing and posting closing entries.

b. preparing an adjusted trial balance.

c. preparing a post-closing trial balance.

d. prepare financial statements from the unadjusted trial balance.