Which One of the Following Is Usually Performed Only at the End

question 105

Multiple Choice

Which one of the following is usually performed only at the end of a company's annual accounting period?

• A)Preparing financial statements
• B)Journalizing and posting adjusting entries
• C)Journalizing and posting closing entries
• D)Preparing an adjusted trial balance

---

Definitions:

Unemployment Taxes

Taxes imposed on employers, based on their payroll, to fund unemployment insurance benefits for workers who have lost their jobs.

Federal Government

The national government of a federated country, which holds the overall political authority over that nation.

Implied Covenant

An implied covenant refers to unstated obligations in a contract that are assumed to exist in order to ensure fairness and the fulfillment of the contract's purpose.

Good Faith

Honesty in fact.