Once a Trial Balance Has Been Prepared,the Next Step of the Accounting

question 202

Multiple Choice

Once a trial balance has been prepared,the next step of the accounting cycle involves:

• A)completing ratio analysis.
• B)posting the information to the correct ledger accounts.
• C)preparing major financial statements such as the balance sheet.
• D)classifying the transactions into logical categories.

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Definitions:

Gravity Feedings

A method of delivering enteral nutrition or fluids using the natural force of gravity, often through a feeding tube.

Heart Attack

A medical condition caused by the blockage of blood flow to the heart muscle, also known as myocardial infarction.

Olive Oil

A liquid fat obtained from olives, used in cooking, cosmetics, and as a dressing, notable for its health benefits including heart-healthy monounsaturated fats.

Condiment

A substance, such as salt, mustard, or ketchup, used to add flavor to food.