In an accounting cycle, which of the following steps takes place only at the end of the accounting period?
A)Start with the beginning account balances.
B)Journalize transactions that occur.
C)Analyze transactions as they occur.
D)Journalize adjusting entries.

Question

Quizplus · Accepted Answer

Journalizing adjusting entries is a step that takes place only at the end of the accounting period, as these entries are made to ensure that accounts accurately reflect the financial position of the company at the end of the period. The other steps listed (starting with beginning account balances, journalizing transactions, and analyzing transactions) occur throughout the accounting cycle, not just at the end of the period.

In an Accounting Cycle, Which of the Following Steps Takes