Which One of the Following Is the Last Step in the Accounting

question 96

Multiple Choice

Which one of the following is the last step in the accounting cycle?

• A) Journalizing and posting accounting transactions
• B) Journalizing and posting adjusting entries
• C) Preparing a post-closing trial balance
• D) Preparing financial statements

---

Definitions:

Tariffs and Trades

Government-imposed taxes on imported goods, often used to control trade balances and protect domestic industries.

Self-executing

describes a document, rule, or law that becomes effective immediately without the need for any additional action, enforcement, or formal ratification.

Non-self-executing

A term used to describe treaties or provisions that require additional legislation to be implemented domestically.

Treaties

Formal agreements between countries that are governed by international law.