The following are steps in the accounting cycle: What is the order that is normally followed?
A) 4, 7, 3, 6, 1, 9, 2, 8, 5
B) 4, 7, 3, 6, 8, 1, 9, 2, 5
C) 4, 7, 3, 6, 1, 9, 8, 2, 5
D) None of the above

Question

The following are steps in the accounting cycle:  What is the order that is normally followed?
A) 4, 7, 3, 6, 1, 9, 2, 8, 5 
B) 4, 7, 3, 6, 8, 1, 9, 2, 5 
C) 4, 7, 3, 6, 1, 9, 8, 2, 5 
D) None of the above

Quizplus · Accepted Answer

The correct order for the accounting cycle follows the progression of: 1) Analyze transactions, 2) Journalize transactions, 3) Post to the general ledger, 4) Prepare an unadjusted trial balance, 5) Record adjusting entries, 6) Prepare an adjusted trial balance, 7) Prepare financial statements, 8) Close temporary accounts, and 9) Prepare a post-closing trial balance. The correct order for the options given is C: 4, 7, 3, 6, 1, 9, 8, 2, 5.

The Following Are Steps in the Accounting Cycle: What