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:

Least Common Multiple

The smallest positive integer that is a multiple of two or more integers.

Expressions

Mathematical phrases that can represent numbers, operations, and/or variables but do not include an equality sign.

Expressions

Mathematical phrases that can contain numbers, variables, operators and can be evaluated to a value.

Complex Fraction

A fraction in which the numerator, the denominator, or both contain fractions themselves.