$1.$ What is the first step in the preparation of financial statements?

a$)$ Collecting information from documents and other sources

b$)$ Preparing income statement for the period

c$)$ Preparing adjusted trial balance

d$)$ Posting entries to general ledger accounts

$2.$ What is the $2$nd step in the preparation of financial statements?

a$)$ Preparing adjusted trial balance

b$)$ Preparing statement of retained earnings for the period

c$)$ Posting entries to general ledger accounts

d$)$ Recording in the form of journal entries

$3.$ What is the $3$rd step in the preparation of financial statements?

a$)$ Recording in the form of journal entries

b$)$ Posting entries to general ledger accounts

c$)$ Collecting information from

documents and other sources

d$)$ Preparing income statement for the period

$4.$ What is step $4$ in the preparation of financial statements?

a$)$ Posting adjusting entries to general ledger

b$)$ Preparing an unadjusted trial balance

c$)$ Analyzing trial balance $/$considering unrecorded transactions

d$)$ Posting entries to general ledger accounts

$5.$ What is step $5$ in the preparation of financial statements?

a$)$ Analyzing trial balance$/$considering unrecorded transactions

b$)$ Posting adjusting entries to general ledger

c$)$ Preparing adjusting journal entries for accruals, prepaids, etc.

d$)$ Preparing an unadjusted trial balance

$6.$ What is step $6$ in the preparation of financial statements?

a$)$ Preparing adjusted trial balance

b$)$ Analyzing trial balance$/$considering unrecorded transactions

c$)$ Preparing adjusting journal entries for accruals, prepaids, etc.

d$)$ Posting adjusting entries to general ledger

$7.$ What is step $7$ in the preparation of financial statements?

a$)$ Preparing adjusted trial balance

b$)$ Posting adjusting entries to general ledger

c$)$ Preparing income statement for the period

d$)$ Preparing statement of retained earnings for the period

$8.$ What is step $8$ in the preparation of financial statements?

a$)$ Preparing income statement for the period

b$)$ Posting adjusting entries to general ledger

c$)$ Preparing statement of retained earnings for the period

d$)$ Preparing adjusted trial balance

$9.$ What is step $9$ in the preparation of financial statements?

a$)$ Preparing income statement for the period

b$)$ Preparing statement of retained earnings for the period

c$)$ Recording in the form of journal entries

d$)$ Posting entries to general ledger accounts

$10.$ What is step $10$ and $11$ in the preparation of financial statements?

a$)$ Preparing statement of retained earnings for the period and then preparing a balance sheet as of the period end date

b$)$ Preparing adjusted trial balance

c$)$ Preparing income statement for the period and then posting adjusting entries to general ledger

d$)$ None of the above