Question

Which of the following accounting steps in the accounting process would be completed last?

a. journalizing
b. preparing the financial statements
c. preparing the adjusted trial balance
d. posting

Answer 1

The preparation of financial statements is typically completed last in the accounting process.

Step-by-step explanation:

In the accounting process, the preparation of financial statements is typically completed last. This step involves summarizing the financial data to create key reports such as the income statement, balance sheet, and cash flow statement. These reports provide important information about a company's financial performance and position.