Multiple Choice
Once the adjusting entries have been prepared (journalized and posted) , which of the following steps of the accounting cycle are carried out in proper sequence?
A) Prepare an adjusted trial balance, prepare financial statements, close temporary accounts, prepare a post-closing trial balance.
B) Prepare an unadjusted trial balance, prepare financial statements, close temporary accounts, prepare a post-closing trial balance.
C) Prepare closing entries, prepare financial statements, prepare an adjusted trial balance, prepare a post-closing trial balance.
D) Prepare financial statements, prepare an adjusted trial balance, prepare closing entries, prepare a post-closing trial balance.
Correct Answer:
Verified
Correct Answer:
Verified
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