Which of the Following Steps in the Accounting Cycle Happens

question 34

Multiple Choice

Which of the following steps in the accounting cycle happens only at the end of the year?

• A) Prepare financial statements.
• B) Close temporary accounts to retained earnings.
• C) Record adjusting entries.
• D) Prepare a trial balance.

---

Definitions:

Allergy

A hypersensitive response of the immune system to substances that are generally harmless, such as pollen, foods, or dust.

Respiratory Depression

A decrease in the rate and depth of breathing, leading to inadequate ventilation and potentially dangerous levels of carbon dioxide in the blood.

Chronic Pain

Persistent or recurrent pain lasting longer than three months, often resistant to medical treatment and affecting an individual's quality of life.

Arthritis

A condition causing pain and inflammation in joints.