Which of the following steps is optional during the closing process?
a. Adjusting entries are journalized and posted to the ledger.
b. An end-of-period spreadsheet is prepared.
c. An unadjusted trial balance is prepared.
d. A post-closing trial balance is prepared.
Homework Answers
Answer : Option b [ An end-of-period spreadsheet is prepared ]
Explanation : The purpose of preparing end-of-year spreadsheet is only to show the movement of transactions and this step is optional during the closing process.
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Which of the following steps is optional during the closing process?
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