Once an Unadjusted Trial Balance Has Been Prepared, the Next

question 62

Multiple Choice

Once an unadjusted trial balance has been prepared, the next step in the accounting cycle is

• A) calculate profit.
• B) calculate owner's capital at the end of the period.
• C) analyze the accounts for adjusting entries which need to be made.
• D) prepare financial statements.

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Errors in Logic

Missteps in reasoning that lead to invalid arguments or incorrect conclusions.

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