In the Accounting Cycle, Which Step Immediately Comes Before Analyzing

question 40

Multiple Choice

In the accounting cycle, which step immediately comes before analyzing transactions?

• A) Prepare financial statements.
• B) Close the temporary accounts.
• C) Obtain information from source documents.
• D) None-analyzing transactions is the first step in the accounting cycle.

---

Definitions:

Hierarchy and Routine

A structured order and established processes within an organization to ensure efficiency and predictability.

Interpersonal Skills

Abilities used by individuals to interact effectively and harmoniously with other people.

Transformational Style

A leadership approach focused on inspiring and motivating followers to exceed their own interests for the good of the group or organization by effecting significant change.

Relationship Oriented

A leadership or organizational approach that focuses on building strong interpersonal relationships and valuing the well-being of team members.