The accounting cycle followed each period by a company includes recording transactions, storing the data, organizing the information, summarizing the events and arrangements and then reporting the accounting information.

Question

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The accounting cycle involves these steps - Recording, Journalizing, Posting, Trial Balance, Adjusting Entries, Adjusted Trial Balance, Financial Statements, Closing Entries, Post-Closing Trial Balance. The end result is the reporting of financial information.

The Accounting Cycle Followed Each Period by a Company Includes