Identify the item below that is NOT one of the steps in an accounting cycle.
A)journalize and post the adjusting entries.
B)prepare invoices for customers.
C)prepare the financial statements.
D)prepare the post-closing trial balance.

Question

Quizplus · Accepted Answer

The step "prepare invoices for customers" is not part of the accounting cycle. The typical steps in the accounting cycle include analyzing transactions, recording transactions in the journal, posting transactions to the ledger, preparing an unadjusted trial balance, journalizing and posting adjusting entries, preparing an adjusted trial balance, preparing financial statements, journalizing and posting closing entries, and preparing a post-closing trial balance.

Identify the Item Below That Is NOT One of the Steps