answer the following

1) The process that begins with recording business transactions and includes the complelic the financial statements is the Al calendar year. B) natural business year, C) fiscal year. Dj accounting cycle 21 The most logical reason to use a journal instead of T accounts is A) it makes finding errors easter. Bj it keeps all transactions categorized by type. C) only one book is needed for all of a firm's bookkeeping needs D) a journal consists of removable pages. 3) The twelve-month period a business chooses for its accounting period is a[n) A) calendar year. B) accounting period. C) fiscal year D) accounting cycle. 4) The time period for which the income statement is prepared is a[n) A) calendar year. B) accounting period. C] fiscal period. DJ accounting cycle 5) Financial statements that are prepared for a period shorter than a year are called A) accounting period statements B) fiscal year statements. C) interim statements. D) journal statements, 6) The first step of the accounting cycle is Al recording journal entries. B) posting to the ledger. C) preparing a trial balance D) analyzing business transactions. 7) A journal entry affecting three or more accounts is called a A) multi-lovel entry B) multi-step entry. C) compound entry