Accountancy, asked by kesharsinghdhurwey7, 9 months ago

last step of accounting process​

Answers

Answered by Chocolate086
1

Answer:

In the accounting cycle, the last step is to prepare a post-closing trial balance. It is prepared to test the equality of debits and credits after closing entries are made.

Answered by tavongagwaza517
0

Answer:

Explanation:

In the accounting cycle, the last step is to prepare a post-closing trial balance. It is prepared to test the equality of debits and credits after closing entries are made. Since temporary accounts are already closed at this point, the post-closing trial balance contains real accounts only.

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