All of the following activities are performed on a daily basis except for
A) collecting source documents.
B) determining the impact of a transaction on the company's financial position.
C) preparing the journal entries.
D) preparing the trial balance.

Question

Quizplus · Accepted Answer

Preparing the trial balance is typically not done on a daily basis; it is usually prepared at the end of an accounting period to ensure that debits and credits are balanced.

All of the Following Activities Are Performed on a Daily