The Process of Transferring Amounts from the Book of Original

question 22

Multiple Choice

The process of transferring amounts from the book of original entry into the ledger is referred to as:

• A) journalizing.
• B) posting.
• C) analyzing.
• D) classifying.

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Definitions:

Cure

The action of resolving a breach or default situation, either by fixing the underlying issue or by making restitution to affected parties.

Scheduled Interest Payment

This refers to the periodic interest payments that a borrower is obligated to make to a lender under the terms of a debt instrument.

Payment Default

Failure to meet the obligations of a credit agreement, such as not making the required payments on a loan or bond by the due date.

Technical Default

A situation where a borrower violates a term or condition of a loan agreement without causing financial harm to the lender.