Which of the following is the final step in the accounting cycle?
A)Preparing an adjusted trial balance.
B)Preparing a post-closing trial balance.
C)Journalizing.
D)Preparing the statements.
E)Preparing a work sheet.

Question

Quizplus · Accepted Answer

The final step in the accounting cycle is preparing a post-closing trial balance, which helps ensure that all temporary accounts have been closed and the balances have been transferred to the appropriate permanent accounts. After this step, the cycle starts over with the next accounting period.

Which of the Following Is the Final Step in the Accounting