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

question 63

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 each of these trial balances.

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Definitions:

Interact

To communicate or act together, influencing each other, often in a dynamic and responsive way.

Passively

In a manner that involves acceptance or submission without active response or resistance.

Memo

A written message, especially in a business setting, for communication within an organization.

Voice Mail

A system that allows users to exchange personal voice messages using an electronic system.