After the Worksheet Has Been Completed, the Next Step in the Accounting

question 96

Multiple Choice

After the worksheet has been completed, the next step in the accounting cycle is to:

• A)prepare the financial statements.
• B)journalize the closing entries.
• C)prepare the post-closing trial balance.
• D)post the closing entries.

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Definitions:

Communicate Effectively

Communicate Effectively involves sharing information in a way that is clearly understood by others, utilizing both verbal and non-verbal methods, to achieve intended outcomes.

Well-Organized Narratives

Stories or accounts that are structured in a coherent and logical manner, making them easy to follow and understand.

Habituation Paradigm

A research technique that takes advantage of a baby’s tendency to orient to new stimulation and to habituate to repeated or old stimulation. Once an infant habituates to one stimulus a new stimulus can be presented. The baby’s reorienting to the new stimulus (or failure to do so) reveals whether or not she perceives or notices the differences between the stimuli.

Sensorimotor Period

A stage in Piaget’s theory of cognitive development, from birth to about 2 years of age, where infants learn about the world through their sensory and motor interactions.