Multiple Select Question

Select all that apply

Which of the statements below is $($are$)$ correct regarding the accounting cycle? $($Check all that apply.$)$

The accounting cycle is a series of steps repeated each reporting period.

The accounting cycle refers to the steps that occur within a company to approve expenses for payment.

The accounting cycle refers to steps followed by a company to prepare its financial statements.

The accounting cycle contains $10$ steps.

The accounting cycle takes place anytime the general ledger accounts need adjusting.

The cycle contains steps for adjusting and closing accounts.

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