The Recurring Steps Performed Each Accounting Period,starting with Analyzing and Recording

question 69

Multiple Choice

The recurring steps performed each accounting period,starting with analyzing and recording transactions in the journal and continuing through the post-closing trial balance,are referred to as the:

• A)Accounting period
• B)Operating cycle
• C)Accounting cycle
• D)Closing cycle
• E)Natural business year

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Definitions:

General Partner

An owner of a partnership who has unlimited liability and is actively involved in the management of the business.