What is the final step in the recording process?
A)preparation of trial balance
B)preparation of journal entries
C)preparation of source documents
D)transferring journal entries in the general journal to the ledger
E)preparation of financial statements

Question

Quizplus · Accepted Answer

The final step in the recording process is the preparation of financial statements, which include the income statement, balance sheet, and statement of cash flows. These statements provide a summary of the company's financial activities during a specific period and allow stakeholders to assess the company's performance and financial position.

What Is the Final Step in the Recording Process