Clients that prepare financial statements _______ are more likely to have well-established closing procedures than clients that prepare financial statements _______.
A)monthly; annually
B)annually; monthly
C)half-yearly; monthly
D)annually; half-yearly

Question

Quizplus · Accepted Answer

Clients that prepare financial statements monthly have to regularly close their accounting books, which requires well-established closing procedures. Clients that prepare financial statements annually may have less established closing procedures since they only have to close their accounting books once a year.

Clients That Prepare Financial Statements _______ Are More Likely to Have