The Process of Initially Recording Business Transactions in a Journal

question 59

Multiple Choice

The process of initially recording business transactions in a journal is called

• A) sliding.
• B) posting.
• C) journalizing.
• D) transposing.

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Definitions:

Trademark

A recognizable symbol, design, or expression that uniquely identifies and legally protects the brand or product of a particular source from being used by others.

Capital Expenditure

Funds used by a company to acquire, upgrade, and maintain physical assets such as property, industrial buildings, or equipment.

Revenue Expenditure

Expenses incurred by an organization in its day-to-day operations which do not add to the value of an asset.

Operating Costs

Expenses associated with the day-to-day functions of a business, excluding costs associated with production or acquisition of goods.