The Following Are Steps to the Accounting Cycle

question 96

Multiple Choice

The following are steps to the accounting cycle. Of the following, which step should be done first?

• A) Closing entries are journalized and posted to the ledger.
• B) Transactions are posted to the ledger.
• C) Adjusting entries are journalized and posted to the ledger.
• D) Financial statements are prepared.

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Definitions:

Social Anxiety

A form of anxiety that affects people in social situations, where they may feel excessively self-conscious, judged, or fearful of being embarrassed.

Dispositional Optimism

A general expectation that good things will happen, reflecting a tendency to maintain a positive outlook.

Health

The state of complete physical, mental, and social well-being, and not merely the absence of disease or infirmity.

Type A

character traits include competitiveness, impatience, and a constant sense of urgency, often linked to stress-related health issues.