Question

The steps performed each reporting period in preparing financial statements, starting with analyzing and recording transactions in the journal and continuing through the post-closing trial balance, is referred to as the:________.

Answer 1

Accounting cycle

Step-by-step explanation:

Accounting cycle is a series of activities that compiles an organization's transactions at the end of a reporting period in order to prepare important financial statements. It is a complete sequence of accounting procedures in appropriate order during each accounting period.