Identify the item below that is NOT one of the steps in an accounting cycle.
A) prepare the financial statements
B) prepare the post-closing trial balance
C) journalize and post the adjusting entries
D) prepare invoices for customers

Question

Quizplus · Accepted Answer

Preparing invoices for customers is not a step in the accounting cycle. The steps in an accounting cycle typically include analyzing transactions, recording journal entries, posting entries to the general ledger, preparing an unadjusted trial balance, making adjusting entries, preparing an adjusted trial balance, preparing financial statements, making closing entries, and preparing a post-closing trial balance.

Identify the Item Below That Is NOT One of the Steps