All of the following are steps included in the accounting cycle EXCEPT : A)forecasting of expenses and revenues. B)preparing a trial balance. C)posting journal information into ledgers. D)recording information into journals.

Question

Quizplus · Accepted Answer

Forecasting of expenses and revenues is not a step in the accounting cycle. The other three options are all included in the accounting cycle. The accounting cycle includes recording transactions in journals, posting journal information into ledgers, preparing a trial balance, adjusting journal entries, preparing financial statements, closing the books, and preparing post-closing trial balances.

All of the Following Are Steps Included in the Accounting