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Which of the following statements is true of the accounting cycle? A. It ignores the...

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Question

Accounting

Which of the following statements is true of the accounting cycle?

A.

It ignores the beginning balances of accounts.

B.

It is a process by which financial statements for a period are produced.

C.

It takes place only at the end of an accounting period.

D.

It involves preparation of adjusting entries after the closing entries.

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