BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Posting
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Entry
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Accounting
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None of the above
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Detailed explanation-1: -Journalizing is the process of recording transactions in a journal as journal entries. Posting is the process of transferring the all the transactions to the ledger.
Detailed explanation-2: -The process of transferring the entries from journal to respective ledger accounts is called ledger posting.
Detailed explanation-3: -Recording of a transaction in the Journal is termed as Journalising. Thus, when entries are posted or transferred to the respective ledger accounts, this process is termed as posting.
Detailed explanation-4: -Posting in accounting refers to moving a transaction entry from a journal to a general ledger, which contains all of a company’s financial accounts. A journal’s entries are chronological while a ledger compiles its transactions by accounts, such as assets or liabilities.