Which is the correct order of the steps in the accounting cycle during the accounting period?
A)Transaction analysis,journal entries,trial balance
B)Transaction analysis,posting to the accounts,journal entries
C)Transaction analysis,posting to the accounts,adjusting the accounts
D)Transaction analysis,journal entries,posting to the accounts

Question

Quizplus · Accepted Answer

The correct order of the steps in the accounting cycle during the accounting period is transaction analysis, journal entries, and posting to the accounts. Adjusting the accounts comes later in the cycle, after the trial balance is prepared. Therefore, option D is the correct choice as it follows the correct order for the steps in the accounting cycle.

Which Is the Correct Order of the Steps in the Accounting