Which of the Following Is not Part of the Accounting

question 50

Multiple Choice

Which of the following is not part of the accounting cycle?

• A)posting
• B)financial statement analysis
• C)adjusted trial balance
• D)transaction analysis

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Definitions:

Asset Account

An account on a balance sheet that represents a resource with economic value owned or controlled by an individual or business.

Liability Account

An account noted on the balance sheet that represents debts or obligations that a company owes to others and must settle over time.

Posting Reference Column

A ledger column used to indicate the account number or code that corresponds to each entry, facilitating cross-referencing between ledgers.

Journal

A book or digital record where transactions are initially recorded before they are posted to ledgers.