Which of the following is not a typical accounting cycle?
A) Revenue.
B) Inventory.
C) Cash.
D) Internal Controls.

Question

Quizplus · Accepted Answer

The accounting cycle typically involves the following steps: recording transactions, posting to the general ledger, preparing an unadjusted trial balance, adjusting entries, preparing an adjusted trial balance, preparing financial statements, closing entries, and preparing a post-closing trial balance. Internal controls are important for ensuring accuracy and preventing fraud, but they are not considered a standard part of the accounting cycle.

Which of the Following Is Not a Typical Accounting Cycle