Which of the following phases of the accounting information processing cycle is performed at the end of the accounting period?
A)Adjusting entries.
B)Peer reviews.
C)Liquidation.
D)Transaction entries.

Question

Quizplus · Accepted Answer

Adjusting entries are typically made at the end of an accounting period to ensure that financial statements are accurate and up-to-date. This phase is therefore performed at the end of the accounting period. Peer reviews and liquidation are not phases of the accounting information processing cycle, while transaction entries can occur throughout the cycle.

Which of the Following Phases of the Accounting Information Processing