Immediately After the Adjusting Entries Are Completed,the Next Step in the General

question 63

Multiple Choice

Immediately after the adjusting entries are completed,the next step in the general ledger and reporting system is to prepare

• A)an adjusted trial balance.
• B)a closing entry.
• C)a worksheet.
• D)the statement of cash flows.

---

Definitions:

Price Increase

An upward adjustment in the selling price of goods or services, typically in response to inflation, increased costs, or improved value.

Percentage Change

A mathematical calculation that represents the degree of change over time, expressed as a percentage.

Absorption Costing

A method of product costing that includes all manufacturing costs - both fixed and variable - in the cost of a product.

Rate Of Return

The gain or loss on an investment over a specified period, expressed as a percentage.