Which of the following is not among the first five steps in the accounting cycle?
A) Record transactions in journals.
B) Record closing entries.
C) Adjust the general ledger accounts.
D) Post entries to general ledger accounts.

Question

Quizplus · Accepted Answer

The first five steps in the accounting cycle include analyzing transactions, recording transactions in journals, posting entries to general ledger accounts, preparing an unadjusted trial balance, and adjusting general ledger accounts. Recording closing entries is performed as one of the final steps in the accounting cycle, after financial statements have been prepared.

Which of the Following Is Not Among the First Five