The Proper Sequence of Steps in the Accounting Cycle Is

question 57

Multiple Choice

The proper sequence of steps in the accounting cycle is as follows

• A) analyze and record transactions, post transaction to the ledger, prepare a trial balance, prepare financial statements, journalize closing entries, analyze adjustment data and prepare adjusting entries
• B) prepare a trial balance, analyze adjustment data, prepare adjusting entries, prepare financial statements, journalize closing entries and post to the ledger, analyze and record transactions, post transactions to the ledger
• C) analyze and record transactions, post transactions to the ledger, prepare a trial balance, analyze adjustment data, prepare adjusting entries, prepare financial statements, journalize closing entries and post to the ledger, and finally prepare a post-closing trial balance
• D) prepare financial statements, journalize closing entries and post to the ledger, analyze and record transactions, post transactions to the ledger, prepare a trial balance, analyze adjustment data, prepare adjusting entries

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Definitions:

Stomach

A major digestive organ located in the upper abdomen, responsible for the enzymatic breakdown of food.

Ileocecal Sphincter

A valve situated at the junction of the ileum (last portion of the small intestine) and the cecum (beginning of the large intestine) controlling the flow of digested material.

Ileum

The final and longest segment of the small intestine, where most of the nutrients and minerals from ingested food are absorbed.

Cecum

The beginning of the large intestine, a pouch connected to the junction of the small and large intestines.