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1)What are the steps in completing the accounting cycle? 2)How do the different steps affect the...

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Accounting

1)What are the steps in completing the accounting cycle?

2)How do the different steps affect the financialstatements?

3)What is the effect on the financial statements of missing astep when completing the accounting cycle?

4)How do these steps play a roll in accrual basisaccounting?

Answer & Explanation Solved by verified expert
3.6 Ratings (384 Votes)
1 The eight steps in the accounting cycle in order are transactions journal entries posting trial balance worksheet adjusting journal entries financial statements and closing of the books At the end of    See Answer
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