Final answer:
Recording transactions is a step in the accounting cycle that may be performed more frequently than annually.
Step-by-step explanation:
The accounting cycle is a series of steps that businesses follow to record, analyze, and report their financial transactions. While most of the steps in the accounting cycle are performed annually, there is one step that may be performed more frequently than annually, which is recording transactions.
Recording transactions involves entering the details of each financial transaction into the company's accounting system. This step is typically done on a daily basis to ensure that all transactions are accurately recorded in the appropriate accounts.
On the other hand, preparing financial statements, closing the books, and analyzing financial data are usually performed at the end of an accounting period, such as monthly, quarterly, or annually, to summarize and analyze the financial information for that period.