Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 9 - No. 40)

10. What is the correct order of the accounting cycle?

Transactions, Journal, Ledger, Trial Balance, Financial Statements

Journal, Transactions, Ledger, Trial Balance, Financial Statements

Ledger, Journal, Transactions, Trial Balance, Financial Statements

Transactions, Ledger, Journal, Trial Balance, Financial Statements

Accounting cycle starts with transactions, followed by journal entries, then ledger entries, then trial balance and finally the financial statements.