The eight recurring steps performed each accounting period, starting with recording transactions in the journal and continuing through the post-closing trial balance, is called the
A) Accounting period
B) Operating cycle
C) Accounting cycle
D) Closing cycle
E) Natural business year

Question

Quizplus · Accepted Answer

The eight recurring steps performed each accounting period, starting with recording transactions in the journal and continuing through the post-closing trial balance, is called the accounting cycle. The other options (A, B, D, and E) do not accurately describe the specific steps involved in the accounting process.

The Eight Recurring Steps Performed Each Accounting Period, Starting with Recording