Once a trial balance has been prepared,the next step of the accounting cycle involves:
A)Posting the information to the correct ledger accounts.
B)Completing a balance sheet and ratio analysis.
C)Preparing financial statements such as the balance sheet,income statement,and statement of cash flows.
D)Classifying the transactions into logical categories.

Question

Quizplus · Accepted Answer

After preparing a trial balance, the next step in the accounting cycle is to prepare financial statements, which include the balance sheet, income statement, and statement of cash flows.

Once a Trial Balance Has Been Prepared,the Next Step of the Accounting