Once the financial statements have been prepared,the steps in the accounting cycle are complete.Which of the following is NOT one of the steps in the accounting cycle?

Question

Quizplus · Accepted Answer

The "Closing Trial Balance" is not a recognized step in the accounting cycle. The correct term is "Post-Closing Trial Balance," which is used to ensure that debits equal credits after closing entries are made.

Once the Financial Statements Have Been Prepared,the Steps in the Accounting