QuestionJune 19, 2025

In the accounting cycle, the last step is a. journalizing and posting the adjusting entries b. journalizing and posting the closing entries c. preparing the financial statements d. preparing a post-closing trial balance

In the accounting cycle, the last step is a. journalizing and posting the adjusting entries b. journalizing and posting the closing entries c. preparing the financial statements d. preparing a post-closing trial balance
In the accounting cycle, the last step is
a. journalizing and posting the adjusting entries
b. journalizing and posting the closing entries
c. preparing the financial statements
d. preparing a post-closing trial balance

Solution
4.2(189 votes)

Answer

d. preparing a post-closing trial balance Explanation 1. Identify the last step in the accounting cycle The accounting cycle ends with ensuring all accounts are ready for the next period. This involves preparing a post-closing trial balance to verify that debits equal credits after closing entries.

Explanation

1. Identify the last step in the accounting cycle<br /> The accounting cycle ends with ensuring all accounts are ready for the next period. This involves preparing a post-closing trial balance to verify that debits equal credits after closing entries.
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