The sequence of steps used to record and report business transactions is referred to as:
A)transaction analysis.
B)the accounting cycle.
C)journalizing.
D)the accounting period.

Question

Quizplus · Accepted Answer

The accounting cycle is the sequence of steps used to record and report business transactions. It includes several stages, such as identifying and analyzing transactions, entering them in the journal, posting to the ledger, and preparing financial statements.

The Sequence of Steps Used to Record and Report Business