Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 42 - No. 13)
What is the correct order of the accounting cycle after the trial balance is prepared?
Prepare the financial statements, record adjusting entries, then close the books.
Record adjusting entries, prepare the financial statements, then close the books.
Close the books, record adjusting entries, then prepare the financial statements.
Prepare the financial statements, close the books, and record adjusting entries.
Explanation
Adjusting entries, financial statements, then closing the books.
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