The final step in the accounting cycle is the preparation of a post-closing trial balance.
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Q9: Expenses and losses will decrease liabilities.
Q10: The first step in the accounting cycle
Q11: Revenues and gains will increase retained earnings.
Q12: Financial statements are prepared after the temporary
Q13: The final step in the accounting cycle
Q15: Accumulated other comprehensive income is included in
Q16: Once the adjusting entries have been prepared
Q17: The accounting equation may be stated as
Q18: After transactions are recorded in the general
Q19: Gains and losses result from peripheral transactions
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