The Name Given to Entering Transaction Data in the Journal

question 60

Multiple Choice

The name given to entering transaction data in the journal is

• A) chronicling.
• B) listing.
• C) posting.
• D)journalizing.

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Definitions:

Rescind

To revoke, cancel, or annul a contract, making it as if it never existed.

Express False Statement

A false declaration or claim made explicitly, often in writing or verbally, with the intention of misleading.

Contract

A legally binding agreement between two or more parties that outlines terms and conditions of a transaction or arrangement.

Duress

A condition where an individual performs an act as a result of violence, threat, or other pressure against the person, which may render a contract voidable.