What Is the Last Step in the Journalizing Process

question 190

Multiple Choice

What is the last step in the journalizing process?

• A)Record the transaction in the journal.
• B)Post the transaction to the ledger.
• C)Determine whether each account is increased or decreased by the transaction.
• D)Specify each account affected by the transaction and classify each account by type.

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Definitions:

Knowledge Framework

A structured system of understanding that organizes and categorizes information or concepts to facilitate learning and comprehension.

Sequence Of Events

A chronological order of events or actions that follow each other in a specific setting or narrative.

Projection Effect

Projection effect describes a cognitive bias where individuals assume that others share the same beliefs, attitudes, or feelings as they do.

Bright Red

A vivid shade of red that is highly saturated and visually striking, often associated with energy, passion, or warning.