The Difference Between the Accounting Process and the Accounting Cycle

Multiple Choice

The difference between the accounting process and the accounting cycle is

A) the accounting process results in the preparation of financial statements, whereas the accounting cycle is concerned with recording business transactions.
B) the accounting cycle represents the steps taken to accomplish the accounting process.
C) the accounting process represents the steps taken to accomplish the accounting cycle.
D) merely semantic, because both concepts refer to the same thing.