The optional step in the accounting cycle is preparing

Question

Quizplus · Accepted Answer

The worksheet is an optional step in the accounting cycle that is used to help prepare the financial statements. It provides a summary of all the financial transactions for the period, and it allows the accountant to make adjusting entries and verify the accuracy of the accounts before preparing the financial statements. While preparing a post-closing trial balance, closing entries, and an adjusted trial balance are all necessary steps in the accounting cycle, the worksheet is optional.

The Optional Step in the Accounting Cycle Is Preparing