The sequence of accounting procedures used to record,classify,and summarize accounting information is called the:
A)Accounting cycle.
B)Accounting period.
C)Accrual accounting.
D)Double-entry bookkeeping.

Question

Quizplus · Accepted Answer

The sequence of accounting procedures used to record, classify, and summarize accounting information is called the accounting cycle. It includes steps such as analyzing transactions, journalizing them, posting them to the ledger, taking a trial balance, adjusting entries, preparing financial statements, and closing the books.

The Sequence of Accounting Procedures Used to Record,classify,and Summarize Accounting