Which of the Following Is the Usual Last Step in the Accounting

question 9

Multiple Choice

Which of the following is the usual last step in the accounting process?

• A) Preparing the adjusted trial balance.
• B) Preparing the financial statements.
• C) Preparing a post-closing trial balance.
• D) Preparing an unadjusted trial balance.

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Definitions:

Negotiated

Refers to the process by which parties discuss and reach a mutual agreement on the terms and conditions of a deal or contract.

Joint Payees

Individuals or entities who are named together on a financial instrument and to whom the amount specified is payable jointly.

Payable

The status of an obligation that is due to be paid.

Instrument

A written legal document that formalizes an agreement or an obligation.