The procedure by which accountants convert data about individual transactions to financial statements is called ??????????___________________________________.
A) the accounting cycle
B) an asset
C) a liability
D) form utility

Question

Quizplus · Accepted Answer

The accounting cycle is the process by which accountants convert data about individual transactions into financial statements. This process involves a series of steps, including identifying and recording transactions, posting transactions to ledgers, adjusting entries, preparing financial statements, and closing the books for the accounting period. Choices B, C, and D are not relevant to the question.

The Procedure by Which Accountants Convert Data About Individual Transactions