The steps in the accounting cycle can be done in any order so long as all of them are accomplished in a short time.

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Quizplus · Accepted Answer

The steps in the accounting cycle must be completed in a specific order to ensure accurate and efficient processing of financial information. The proper order of the accounting cycle includes identifying transactions, journalizing, posting, adjusting entries, preparing financial statements, closing entries, and preparing a post-closing trial balance.

The Steps in the Accounting Cycle Can Be Done in Any