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:

Evolutionary Psychology

Application of Darwinian principles of natural selection and survival of the fittest to individual behavior.

Cognitive Approach

A psychological perspective that focuses on how people think, understand, and know about the world, emphasizing mental functions such as learning, memory, perception, and problem-solving.

Macrosystem

In ecological systems theory, the broader cultural context that shapes an individual's development, including socioeconomic status, ethnicity, and heritage.

Ecological Approach

A perspective or methodology that considers all aspects of the environment, including physical, biological, and social factors, when examining problems or behaviors.