What part of the accounting cycle checks to see that the amount of money the business is spending is equal to the amount of income the business is generating? (1 point) Responses worksheet worksheet trial balance trial balance general ledger general ledger financial statement

Answer 1

The part of the accounting cycle that checks to see that the amount of money the business is spending is equal to the amount of income the business is generating is the trial balance. The trial balance summarizes all the debits and credits to ensure that they are equal, which helps verify that the books are in balance, indicating that income and expenses are recorded correctly.