Which of the Following Is the Final Step in the Accounting

question 39

Multiple Choice

Which of the following is the final step in the accounting cycle?

• A)Preparing an adjusted trial balance.
• B)Preparing a post-closing trial balance.
• C)Journalizing.
• D)Preparing the statements.
• E)Preparing a work sheet.

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Definitions:

T-account

A visual representation of a general ledger account, showing debit and credit transactions and the resulting balance.

Raw Materials

The basic substances used in the production of goods, often processed in several steps before becoming part of the final product.

Advertising Costs

The expenses incurred in promoting a product, service, or business, typically through various media channels.

Overapplied Manufacturing Overhead

A situation where the allocated manufacturing overhead costs are more than the actual overhead costs incurred.