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

Question

Quizplus · Accepted Answer

The usual final step in the accounting cycle is preparing a post-closing trial balance, which ensures that all temporary accounts have been closed and the ledger is ready for the next accounting period.

Which of the Following Is the Usual Final Step in the Accounting