Nathan works as an accountant for a mid-sized retail store. He has just completed a trial balance that resulted in no unexpected problems. Nathan's next task is likely to be
A) conducting the full audit.
B) preparing a tax return for the company.
C) preparing the store's balance sheet and other major financial statements.
D) presenting the trial balance to the company owners.

Question

Quizplus · Accepted Answer

The trial balance is the fourth step in the accounting cycle. If the accounts are correct and balanced, the next step is to prepare major financial statements such as the balance sheet, income statement, and statement of cash flows.

Nathan Works as an Accountant for a Mid-Sized Retail Store