Which of the following correctly represents the sequence of steps in the accounting cycle, as followed in both manual and computerised accounting syst - Accountancy MCQ CUET Accountancy 2025 22 May Shift 2 2026 | ExamTest.live

easyMCQCUET Accountancy 2025 22 May Shift 22026Accountancy

1 mark

Which of the following correctly represents the sequence of steps in the accounting cycle, as followed in both manual and computerised accounting systems?

A $Posting to ledger, Analyzing transactions, Preparing financial statements$
B $Analyzing transactions, Journalizing, Posting to ledger, Preparing trial balance, Adjustments, Adjusted trial balance, Financial statements$
C $Preparing balance sheet, Recording transactions, Preparing journal, Posting adjustments$
D $Posting adjustments, Trial balance, Journalizing, Preparing financial statements$

Solution & Step-by-step Explanation

The standard accounting workflow follows a logical progression:Identifying and Analyzing Transactions.Journalizing (recording in books of original entry).Posting to Ledger accounts.Preparing an Unadjusted Trial Balance.Recording Adjusting Entries.Preparing an Adjusted Trial Balance.Generating Final Financial Statements (Income Statement & Balance Sheet).Option B lists this operational timeline accurately.

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Which of the following correctly represents the sequence of steps in the accounting cycle, as followed in both manual and computerised accounting systems?

Posting to ledger, Analyzing transactions, Preparing financial statements

Analyzing transactions, Journalizing, Posting to ledger, Preparing trial balance, Adjustments, Adjusted trial balance, Financial statements

Preparing balance sheet, Recording transactions, Preparing journal, Posting adjustments

Posting adjustments, Trial balance, Journalizing, Preparing financial statements

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