While most companies make adjustments and prepare statements monthly, many companies complete the accounting cycle only once per year.

Name: While most companies make adjustments and prepare statements monthly, many companies complete the accounting cycle only once per year.
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Question

Quizplus · Accepted Answer

Many companies complete the full accounting cycle, including the preparation of financial statements and closing entries, on an annual basis for reporting purposes, even though they may perform other accounting tasks monthly.

While Most Companies Make Adjustments and Prepare Statements Monthly, Many