In an Accounting Cycle, Which of the Following Steps Takes

question 79

Multiple Choice

In an accounting cycle, which of the following steps takes place only at the end of the accounting period?

• A)Start with the beginning account balances.
• B)Journalize transactions that occur.
• C)Analyze transactions as they occur.
• D)Journalize adjusting entries.

---

Definitions:

Marginal Analysis

An examination of the added benefits of an activity compared to the added costs incurred by that same activity.

Cell Phones

Portable electronic devices that allow users to make voice calls, send text messages, and access various digital services.

Total Profit

The total income a business earns after subtracting all expenses and costs associated with its operations.

Marginal Benefit

The added value or enjoyment a consumer gets from using an additional unit of a product or service.