Which of the Following Is the Final Step in the Accounting

question 77

Multiple Choice

Which of the following is the final step in the accounting cycle?

• A) Journalizing
• B) Preparing an adjusted trial balance
• C) Preparing a post-closing trial balance
• D) Preparing the statements
• E) Preparing a work sheet

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Definitions:

Contain Costs

Strategies or measures implemented to prevent expenses from rising or to reduce them.

Natural Monopolies

Occur in industries where high infrastructure costs and other barriers to entry effectively prevent competition, with utility companies often cited as examples.

Legislation

Laws and legal provisions enacted by a government or legislative authority to regulate, authorize, forbid, or grant something.

Theory Of Regulation

A theoretical framework that examines how regulations are formed, the impact they have, and their efficiency in achieving desired outcomes.