Once a Trial Balance Has Been Prepared,the Next Step of the Accounting

question 22

Multiple Choice

Once a trial balance has been prepared,the next step of the accounting cycle involves:

• A)posting the information to the correct ledger accounts.
• B)completing ratio analysis.
• C)preparing major financial statements such as the balance sheet.
• D)classifying the transactions into logical categories.

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Definitions:

American Designs

Architectural, fashion, or other design styles that originated in or are characteristic of the United States, reflecting its culture and history.

Slave Revolt

An armed uprising by slaves against their masters and the institution of slavery, often seeking freedom, such as the famous 1831 rebellion led by Nat Turner in Virginia.

Virginia

A state in the southeastern U.S., known for its significant history as the site of the first permanent English settlement in America at Jamestown and later as a key battleground in the Civil War.