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

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Most companies complete the accounting cycle only once per year, even though they may make adjustments and prepare statements monthly. This is because the accounting cycle is a process that must be completed in order to produce accurate financial statements. The accounting cycle includes the following steps:1. Recording transactions2. Posting transactions to the general ledger3. Preparing a trial balance4. Adjusting the trial balance5. Preparing financial statements6. Closing the books

While Most Companies Make Adjustments and Prepare Statements Monthly,companies Complete