The Accounting Cycle Requires Three Trial Balances Be Done

question 22

Multiple Choice

The accounting cycle requires three trial balances be done. In what order should they be prepared?

• A) Post-closing, unadjusted, adjusted
• B) Unadjusted, post-closing, adjusted
• C) Unadjusted, adjusted, post-closing
• D) Post-closing, adjusted, unadjusted

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Definitions:

Exponential Notation

A mathematical way to write numbers using bases and exponents, often used to express very large or small numbers succinctly.

Arithmetic Operations

The basic operations in mathematics, which are addition, subtraction, multiplication, and division.

Compound Interest

A method of calculating interest where the interest is added to the principal so that, from that moment on, the interest that has been added also earns interest.

Exponential Decay

A process by which a quantity decreases at a rate proportional to its current value.