The general ledger and financial reporting cycle ends when:
A)no more data are received from other cycles
B)budgets are created
C)financial reports have been generated and distributed
D)budget variances are examined

Question

Quizplus · Accepted Answer

The general ledger and financial reporting cycle ends when financial reports have been generated and distributed, representing the final output of the cycle. While budgets and budget variances may be part of this process, they do not signify the end of the cycle. The end of the cycle is indicated by the completion of financial reports.

The General Ledger and Financial Reporting Cycle Ends When