Accountant Alan Wingspan Has Just Finished Working on the Balance

Multiple Choice

Accountant Alan Wingspan has just finished working on the balance sheet, income statement, and statement of cash flows for his company. The next step in the accounting cycle involves:

A) posting the results of these statements to the appropriate journal.
B) analyzing the firm's financial statements to evaluate the financial condition of the firm.
C) conducting forensic tests of the data to ensure its accuracy.
D) placing the data used to construct the statements into an archive known as a data warehouse.