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
Solution
The steps in the accounting cycle from the options provided are:
- Record transaction in the journal
- Analyze transactions
- Prepare a trial balance
Building a budget and determining investment opportunities are not typically considered steps in the accounting cycle.
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