Which of the Following Steps Is Performed First at the End

question 68

Multiple Choice

Which of the following steps is performed first at the end of each accounting period?

• A)Prepare adjusting entries.
• B)Prepare a post-closing trial balance.
• C)Prepare closing journal entries.
• D)Prepare the statement of retained earnings.

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Definitions:

Automobile Design

The art and science of designing the visual appearance and functionality of vehicles, including their structure, layout, and features.

Net Worth

The total assets minus total outside liabilities of an individual or a company, indicating their financial health.

Generation X

Includes the 55 million people born between 1965 and 1980. Also called the baby bust.

Millennials

A demographic cohort following Generation X, generally born between the early 1980s and the mid-1990s to early 2000s.