The final step in the accounting cycle is
A) preparing the post-closing trial balance.
B) preparing the financial statements.
C) journalizing the closing entries.
D) journalizing the adjusting entries.

Question

Quizplus · Accepted Answer

The final step in the accounting cycle is preparing the post-closing trial balance. This step occurs after all closing entries have been made and the accounts have been brought to their final balances for the period, ensuring that the ledger is balanced and ready for the next accounting period.

The Final Step in the Accounting Cycle Is