Accounting cycles

General Accounting Principles

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The accounting cycle is:

transaction analysis – journal- subsidiary books- trial balance

Transaction analysis- journal – ledger – Trial Balance

Subsidiary books- journal – ledger – Trial Balance

None of above

Explanation:

Defining the accounting cycle with steps:
(1) Financial transactions,
(2)Journal entries,
(3) Posting to the Ledger,
(4) Preparation of Trial Balance and
(5) Preparation & analysis of financial statements

By: Munesh Kumari

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