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Which of the following statements is true of the accounting cycle? A. It ignores the beginning balances of accounts. B. It takes place only at

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

A.

It ignores the beginning balances of accounts.

B.

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

C.

It involves preparation of adjusting entries after the closing entries.

D.

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

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