The step in the accounting cycle that is performed on a periodic basis (i.e. monthly quarterly) is
A) analyzing transactions.
B) journalizing and posting adjusting entries.
C) preparing a post-closing trial balance.
D) posting to ledger accounts.

Question

Quizplus · Accepted Answer

Journalizing and posting adjusting entries are typically performed at the end of each accounting period (i.e. monthly, quarterly) in order to update the accounts and prepare accurate financial statements. The other options listed (analyzing transactions, preparing a post-closing trial balance, posting to ledger accounts) may occur throughout the accounting cycle, but are not necessarily performed on a periodic basis.

The Step in the Accounting Cycle That Is Performed on a Periodic