Question

It refers to a complete sequence of accounting activities.

Options

• Accounting cycle

• Accounting sequence

• Accounting transactions

• Accounting

Answer 1

Accounting cycle

Explanation:

The term "accounting cycle" refers to the complete sequence of accounting activities that occur during an accounting period. This cycle includes all the steps from recording financial transactions in the journal, posting them to the ledger, preparing a trial balance, adjusting entries, and ultimately producing financial statements.