The Recurring Steps Performed Each Reporting Period in Preparing Financial

question 83

Multiple Choice

The recurring steps performed each reporting period in preparing financial statements,starting with analyzing and recording transactions in the journal and continuing through the post-closing trial balance,is referred to as the:

• A)Accounting period.
• B)Operating cycle.
• C)Accounting cycle.
• D)Closing cycle.
• E)Natural business year.

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Definitions:

Ectodermal

Pertaining to the ectoderm, the outermost layer of the embryo, giving rise to the nervous system, skin, and various sensory organs.

Germ Layers

The three primary layers of cells (ectoderm, mesoderm, and endoderm) in the early embryo from which all tissues and organs develop.

Ectoderm

The outermost layer of cells or tissue of an embryo in early development, giving rise to the skin and nervous system.

Nervous Tissue

Comprised of neurons and supporting cells, this tissue is central to the control of bodily functions and the processing of information.