The Last Step in the Accounting Cycle Is to

question 36

Multiple Choice

The last step in the accounting cycle is to

• A) prepare a post-closing trial balance.
• B) journalize and post closing entries.
• C) prepare financial statements.
• D) journalize and post adjusting entries.

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Definitions:

Toxicity

The degree to which a substance can harm humans or animals, often depending on dose and exposure duration.

Human Exposure Levels

The concentration or amount of a chemical or physical agent that a person is exposed to, which can affect health risk assessments.

Margin Of Safety

The extent to which a product or activity is considered safe, or the difference between a product's normal operating condition and its failure point.

Endocrine Systems

A chemical messaging system in the body comprised of glands that release hormones directly into the bloodstream, influencing numerous physiological processes.