Accountıng I Deneme Sınavı Sorusu #1172893
Which of the following is the correct definition of the accounting cycle?
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The process by which companies produce their financial statements for a specific period of time |
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The process by which companies produce their financial statements for the beginning of the period activities |
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The process by which companies produce their financial statements for during the period activities |
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The process by which companies produce their financial statements for the end of the period activities |
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The process by which companies produce their financial statements after closing of revenue accounts |
Accounting cycle can be defined as the process by which companies produce their financial statements for a specific period of time8 . As briefly mentioned, accounting cycle includes three main stages of activities; • beginning of the period activities • during the period activities • end of the period activities.
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