Once a trial balance has been prepared,the next step of the accounting cycle involves:
A)completing ratio analysis.
B)posting the information to the correct ledger accounts.
C)preparing major financial statements such as the balance sheet.
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 the financial statements, such as the balance sheet and income statement, to summarize the financial position and performance of the business.

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