Short Response Question:

In class, we discussed the ten-step process involved with The Accounting Cycle and how that process intersects with Module 2 of our course. With respect to our classroom discussion, please explain why the step involved with creating the Financial Statements represents Step 7 of the ten-step process (as opposed to representing Step 10 of the ten-step process). Also, with respect to our classroom discussion...please identify the name of the Trial Balance that is used as the direct source information for creating the Financial Statements (e.g., Post-Closing Trial Balance or other). Finally, please also identify the name of the Trial Balance that we completed in our Perdisco project (e.g., Post-Closing Trial Balance or other).