Which of the Following Steps in the Accounting Cycle Would

question 190

Multiple Choice

Which of the following steps in the accounting cycle would not generally be performed daily?

• A) Journalize transactions
• B) Post to ledger accounts
• C) Prepare adjusting entries
• D) Analyze business transactions

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Definitions:

Unilateral Contract

A contract where one party makes a promise in exchange for the performance of a specified act by the other party, who is not obligated to perform.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, where no actual contract exists.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to harmonize the law among the states.

Article 2

A section of the UCC that governs the sale of goods, establishing standards and regulations for contracts and transactions.