Which of the following is the final step in the accounting cycle?
A) Journalize the transactions.
B) Post to ledger accounts.
C) Preparing a post-closing trial balance.
D) Journalize and post closing entries.

Question

Quizplus · Accepted Answer

The final step in the accounting cycle is preparing a post-closing trial balance, which is prepared after all closing entries have been made to ensure that debits still equal credits and that all temporary accounts have been closed. Choices A and B refer to earlier steps in the accounting cycle, while choice D refers to a step that occurs after the final step.

Which of the Following Is the Final Step in the Accounting