The Journal Entry to Record the Completion of a Job

question 24

Multiple Choice

The journal entry to record the completion of a job in a job costing system is

• A)a
• B)b
• C)c
• D)d
• E)e

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Definitions:

Ledger

A book or other collection of financial accounts of a particular type or for a specific purpose in accounting.

Journal

A formal record where all financial transactions of a business are initially recorded, date-wise, before being posted to the general ledger.

Trial Balance

A statement that lists all the balances of the general ledger accounts of a business at a particular time to check the correctness of double-entry bookkeeping.

Ledger Balance

The total balance of all accounts in a ledger at a particular point in time, reflecting the current financial position.