Which Is the Correct Order of the Following Steps in the Accounting

question 135

Multiple Choice

Which is the correct order of the following steps in the accounting cycle?

• A)Prepare financial statements,journalize and post adjusting entries,journalize and post the closing entries,and prepare a post-closing trial balance.
• B)Prepare an unadjusted trial balance,journalize and post adjusting entries,journalize and post the closing entries,and prepare financial statements.
• C)Journalize and post adjusting entries,journalize and post the closing entries,prepare financial statements,and prepare an adjusted trial balance.
• D)Prepare an unadjusted trial balance,journalize and post adjusting entries,prepare financial statements,and journalize and post the closing entries.

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Definitions:

Three-part Model

A conceptual framework divided into three sections or components for analysis or understanding.

Memory Storage

The process of retaining information over time through various forms of brain encoding and organization.

Sensory Storage

The shortest-term element of memory, where sensory information is held just long enough to be processed for basic physical characteristics.

Encoding

The process by which information is transformed into a format that can be stored in memory.