Some of the Steps in the Accounting Cycle Are Listed

question 211

Multiple Choice

Some of the steps in the accounting cycle are listed below.Select the choice that places these steps in the correct order.
1) Close the accounts.
2) Post transactions to accounts in the ledger.
3) Journalize daily transactions.
4) Record and post adjustments.
5) Prepare financial statements.

• A)2,3,4,5,1
• B)3,2,4,5,1
• C)3,2,4,1,5
• D)3,2,5,4,1

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