Which of the following steps in the accounting cycle usually occurs only at the end of a company's annual accounting period?
A)Step 3: Post to the ledger accounts.
B)Step 7: Prepare financial statements.
C)Step 6: Prepare adjusting trial balance.
D)Step 9: Prepare a post-closing trial balance.

Question

Quizplus · Accepted Answer

The post-closing trial balance is prepared at the end of the annual accounting period to ensure that all temporary accounts have been closed and the ledger is ready for the next accounting period.

Which of the Following Steps in the Accounting Cycle Usually