Which of the Following Is Not a Major Step Necessary

question 111

Multiple Choice

Which of the following is not a major step necessary to complete the accounting cycle?

• A) Prepare and post closing entries
• B) Prepare the post adjusted trial balance
• C) Prepare adjusting entries
• D) Record the transactions, events, and arrangements

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Definitions:

Present Discounted Value

The present value of a future amount of money or sequence of cash inflows, calculated using a designated rate of return.

Formula

A mathematical relationship or rule expressed in symbols.

Present Value

The present worth of a sum of money or series of cash flows expected in the future, calculated using a particular rate of return.

Interest Rate

The percentage of a sum of money charged for its use, indicating the cost of borrowing money or the return on invested savings.