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In Which Order Do These Steps in the Accounting Cycle

Question 24

Multiple Choice

In which order do these steps in the accounting cycle occur?
I Prepare closing entries
II Post to the ledger
III Enter business transactions in the journal
IV Prepare adjusting entries
V Prepare financial statements


A) I, II, III, IV, V
B) III, IV, II, I, V
C) IV, II, I, III, V
D) III, II, IV, V, I

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