Which of the Following Sequence of Actions Describes the Proper

question 7

Multiple Choice

Which of the following sequence of actions describes the proper order in the accounting cycle?

• A) Journalize, post, close, prepare financial statements, adjust, and analyze transactions
• B) Prepare financial statements, journalize, post, adjust, analyze transactions, close
• C) Analyze transactions, journalize, post, adjust, prepare financial statements, close
• D) Post, close, prepare financial statements, adjust, analyze transactions, and journalize

---

Definitions:

Adjusted Balance

The method of calculating finance charges on a credit account by subtracting payments or credits received during the billing cycle from the balance at the end of the billing cycle.

Check Register

A record-keeping tool used to track checks written, deposits made, and the current balance of a checking account.

Bank Statement

A document issued by a bank that summarizes a customer's financial transactions and balance over a specific period.

Service Charge

A fee collected for services provided, often added to bills in restaurants, hotels, or banking services.