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:

Oedipal Complex

A concept in psychoanalytic theory referring to a child's unconscious sexual desire for the opposite-sex parent and jealousy towards the same-sex parent.

Male Child

A young male human, often referred to as a boy.

Desires

Strong feelings of wanting or wishing for something to happen.

Behaviourism

A theory in psychology that focuses on observable behaviors rather than internal processes such as thoughts and feelings, emphasizing the effects of reinforcement on behavior.