What best describes the logical order during the end-of-period procedures?

The logical order during the end-of-period procedures begins with preparing a worksheet, as this tool assists in summarizing the accounts and adjusting entries before finalizing financial statements. The worksheet provides a structured way to review the adjusted trial balance and ensures all necessary adjustments are considered in the financial reporting process.

After the worksheet preparation, the next step is to prepare the financial statements. This includes the income statement, balance sheet, and cash flow statement, which are derived directly from the adjusted trial balance prepared in the worksheet. This step is crucial because financial statements provide the necessary information to stakeholders about the company's financial performance and position.

Once the financial statements are complete, closing entries can be made to reset temporary accounts (like revenues and expenses) to zero for the next accounting period. This step is essential to ensure that the new accounting period reflects the correct financial activities without any carryover effects from the previous period.

This comprehensive sequencing ensures accuracy and clarity in financial reporting, making it essential to follow this logical order for effective accounting practices.