Which of These Steps in the Accounting Cycle Comes First

question 103

Multiple Choice

Which of these steps in the accounting cycle comes first?

• A)posting
• B)adjusting entries
• C)financial statements
• D)closing entries

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Definitions:

Properly Perform

To fulfill or execute tasks and obligations in accordance with agreed standards or contracts.

Constructive Dismissal

A situation where an employee resigns due to the employer's behavior making it impossible to continue working, essentially a forced resignation.

Punitive Damages

Damages awarded by a court to punish a wrongdoer. Not normally awarded for ordinary breach of contract.

Staff Privilege

Special rights, advantages, or permissions granted to employees within an organization, often pertaining to access to resources or information.