The process that begins with recording business transactions and includes the completion of the financial statements is the:
A)calendar year.
B)natural business years.
C)fiscal year.
D)accounting cycle.

Question

Quizplus · Accepted Answer

The accounting cycle is a series of steps that begins with analyzing and recording business transactions and ends with the preparation of financial statements. It typically occurs over a fiscal year, which may or may not coincide with the calendar year. Therefore, the accounting cycle is the most accurate description of the process described in the question.

The Process That Begins with Recording Business Transactions and Includes