Which of the following is an optional step in the accounting cycle?
A) Adjusting entries
B) Closing entries
C) Correcting entries
D) Worksheet
Correct Answer:
Verified
Q42: The net income (or loss) for the
Q50: The worksheet does not show
A) net income
Q56: If the total debits exceed total credits
Q57: Closing entries are necessary for
A) permanent accounts
Q60: The account, Supplies, will appear in the
Q62: The income statement and balance sheet columns
Q62: Closing entries are journalized and posted
A) before
Q68: If Income Summary has a credit balance
Q89: Which one of the following is an
Q144: Income Summary has a credit balance of
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