Multiple Choice
The step in the accounting cycle that is performed on a periodic basis (i.e., monthly, quarterly) is
A) analyzing transactions.
B) journalizing and posting adjusting entries.
C) preparing a post-closing trial balance.
D) posting to ledger accounts.
Correct Answer:
Verified
Correct Answer:
Verified
Q38: The use of reversing entries<br>A)is a required
Q39: The adjustments entered in the adjustments columns
Q40: In preparing closing entries<br>A)each revenue account will
Q41: The IASB and FASB are working on
Q42: The post-closing trial balance contains only<br>A)income statement
Q44: The post-closing trial balance is entered in
Q45: Intangible assets are<br>A)listed directly under current assets
Q46: Preparing a worksheet involves<br>A)two steps.<br>B)three steps.<br>C)four steps.<br>D)five
Q47: Closing entries may be prepared from all
Q48: The following items are taken from the