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Which of the following steps must be completed before preparing the adjusted trial​ balance?

a. posting of journal entries to the accounts

b. journalize and post the closing entries

c. prepare the post minus closing trial balance

d. prepare the financial statements

 

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Jarrod Robel
Jarrod RobelLv2
6 Apr 2020
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Related questions

Closing entries and a post-closing trial balance are steps in the accounting cycle that occur after preparing financial statements. True or False?

Which of the following is the usual final step in the accounting cycle?

a. Preparing a post-closing trial balance

b. Preparing a worksheet

c. Preparing the financial statements

d. Preparing an adjusted trial balance

1- The requirement that only transaction data capable of beingexpressed in terms of money be included in the accounting recordsrelates to the
Answer

A. cost principle.

B. monetary unit assumption.

C. economic entity assumption.

D. both a and b above.


2- Transactions are initially recorded in the
Answer

A. general ledger.

B. trial balance.

C. general journal.

D. balance sheet.


3- The proper sequence for the accounting cycle is
Answer

A. analyze, journalize, post, adjust, prepare statements,close.

B. post, journalize, analyze, prepare statements, close,adjust.

C. prepare statements, journalize, post, adjust, close,analyze.

D. journalize, post, close, prepare statements, adjust,analyze.


4- In preparing closing entries, which of the following columns ofthe worksheet are the most helpful?
Answer

A. The Adjusted Trial Balance columns

B. The Income Statement columns

C. The Balance Sheet columns

D. The Adjustments column

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