Multiple Choice
Which of the following statements is TRUE?
A) Step 8 in the financial reporting process, journalize and post-closing entries, occurs at the end of each reporting period.
B) Step 8 in the financial reporting process, journalize and post-closing entries, occurs at the end of the fiscal year.
C) Posting to the general ledger, step 3, occurs at the end of the reporting period.
D) Posting to the general ledger, step 3, occurs at the end of the fiscal year.
Correct Answer:
Verified
Correct Answer:
Verified
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