Which of the following is a key step in the accounting cycle?
A) recording information into journals
B) collecting data from customers
C) forecasting expenses and revenues
D) preparing the advertising message

Question

Quizplus · Accepted Answer

Steps in the accounting cycle include all of the following: (1) categorize source documents, (2) record transactions in journals, (3) post journal entries to the ledger, (4) perform a trial balance, (5) prepare financial statements, and (6) analyze financial statements.

Which of the Following Is a Key Step in the Accounting