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Which are steps in the accounting cycle? (Select all that apply)Multiple select question.build a budgetrecord transaction in the journalanalyze transactionsprepare a trial balancedetermine investment opportunities

Question

Which are steps in the accounting cycle? (Select all that apply)Multiple select question.build a budgetrecord transaction in the journalanalyze transactionsprepare a trial balancedetermine investment opportunities

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Solution

The steps in the accounting cycle from the options provided are:

  1. Record transaction in the journal
  2. Analyze transactions
  3. Prepare a trial balance

Building a budget and determining investment opportunities are not typically considered steps in the accounting cycle.

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