Question

multiple choice question
describe the final step in the adjusting process.

the final step is to determine the current balance of an account.
the final step is to determine the correct balance of an account.
the final step is to create an adjusting journal entry to get from step 1 to step 2.
the final step is to post to a trial balance so financial statements can be prepared.

Explanation:

The accounting adjusting process follows these general steps: first identify accounts needing adjustment, determine their current balance, find the correct required balance, create adjusting journal entries, and the final step is posting these adjusted entries to the adjusted trial balance, which is used to prepare financial statements. The other options represent earlier steps in the process.

Answer:

The final step is to post to a trial balance so financial statements can be prepared.