Which One of the Following Statements Concerning the Accounting Cycle

question 210

Multiple Choice

Which one of the following statements concerning the accounting cycle is incorrect?

• A) The accounting cycle includes journalizing transactions and posting to ledger accounts.
• B) The accounting cycle includes only one optional step.
• C) The steps in the accounting cycle are performed in sequence.
• D) The steps in the accounting cycle are repeated in each accounting period.

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Definitions:

Coercive Acts

A series of British laws passed in 1774 aimed at punishing the American colonists for the Boston Tea Party and restoring British authority in the colonies.

Olive Branch Petition

A final attempt by the American colonists to avoid a war with Britain by expressing their loyalty to the British crown and seeking an end to the hostilities.

Boston Harbor

A natural harbor and estuary of Massachusetts Bay, historically significant for the Boston Tea Party of 1773.

British Soldiers

Members of the armed forces of the United Kingdom, historically involved in numerous conflicts and peacekeeping missions worldwide.