English, asked by kumarsuraj6616Suraj, 3 months ago

Describe accounting process and cycle.

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Answered by avishisingh74

1

Answer:

The accounting cycle is the process of accepting, recording, sorting, and crediting payments made and received within a business during a particular accounting period. ... Once all the business accounts have been balanced, they are closed out for that period and new ones created for the next accounting period.

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