Which One of the Following Steps in the Accounting Cycle

question 202

Multiple Choice

Which one of the following steps in the accounting cycle is completed only at the end of an accounting period?

• A)Business transactions are recorded.
• B)Adjustments are recorded.
• C)Transactions are journalized.
• D)Journal entries are posted to the ledger.

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Definitions:

Index Number

A statistical measure that shows changes in a variable or group of variables over time.

Price Drop

A decrease in the market price of a good or asset, usually driven by changes in demand, supply, or broader economic factors.

Consumer Price Index

An index measuring the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Basket

A term used in finance to refer to a collection of investments, commodities, or currencies held together.