Examlex

Solved

The Final Step in the Process of Systematically Laying Out

question 27

Multiple Choice

The final step in the process of systematically laying out all pre-work information is the creation of the:


Definitions:

Post Reference Column

A column in journal and ledger accounts that helps in cross-referencing entries between these two accounting records.

General Journal

A comprehensive record of financial transactions over the life of a company, listed in chronological order.

Assets

Resources owned by a company or individual that have economic value and can provide future benefits.

Debits

Accounting entries that increase assets or expenses and decrease liabilities, equity, or revenue.

Related Questions