Once a Trial Balance Has Been Prepared, the Next Step

question 7

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 a balance sheet and ratio analysis.
• C) preparing financial statements such as the balance sheet, income statement, and statement of cash flows.
• D) classifying the transactions into logical categories.

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Definitions:

Windows Update

Modified files provided for the current operating system.

Device Manager

A Windows system utility that allows users to view and control the hardware attached to the computer.

System Restore

A feature in Windows operating systems that allows users to revert their computer's state to a previous point in time, aiming to recover from system malfunctions or other problems.

PXE

Preboot Execution Environment, a protocol that allows computers to boot up and load operating systems over a network interface, bypassing the need for local storage.