During the Performance of the Steps in the Accounting Cycle,the

question 108

Essay

During the performance of the steps in the accounting cycle,the trial balance and the adjusted trial balance are prepared at two key points.Using specific names where applicable,discuss the time of preparation and the purpose served by both of these trial balances.

---

Definitions:

Need Identification

The process of determining and defining the requirements or needs of consumers or businesses.

Pareto Analysis

A statistical technique used to identify the most significant factors in a dataset, based on the principle that a small number of causes typically lead to a large majority of the effects.

Strategic Purchase

The acquisition of goods or services with a forward-looking approach, considering long-term benefits and alignment with an organization's goals.

Description by Brand

An approach to defining or describing products and services based on their brand identity or brand characteristics.