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Auditing the books to ensure that they were prepared according togenerally accepted accounting principles C. Post transactions to the ledger.

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The sixth and final step in the accounting cycle involves. The sixth and final step in the accounting cycle involves. Preparing the income statement. Analyzing major accounting statements to evaluate the financial condition of the firm. For simplicitys sake were going to divide it into six steps. Bauditing the books to ensure that they were prepared according to generally accepted accounting principles.

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The funds owned by the company are called assets.

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