In the Accounting Cycle, the Last Step Is

question 9

Multiple Choice

In the accounting cycle, the last step is

• A) preparing the financial statements
• B) journalizing and posting the adjusting entries
• C) preparing a post-closing trial balance
• D) journalizing and posting the closing entries

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Definitions:

Flextime

A flexible working hours policy allowing employees to adjust their start and end times within agreed limits based on their needs and preferences.

Rotating Schedule

A work schedule that rotates or changes the hours, days, or shifts that an employee works, often used to cover various parts of a 24/7 operation.

Flextime

A flexible working hours policy that allows employees to tailor their work schedule around a core period of mandatory working hours.