Posting Is the Process Of

question 8

Multiple Choice

Posting is the process of:

• A) preparing a chart of accounts.
• B) adding a column of figures.
• C) transferring journal entries to ledger accounts.
• D) recording entries in a journal.

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Definitions:

Income Distribution

The allocation of earned income or revenue to various stakeholders, such as dividends to shareholders or wages to employees.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against an asset since it was put into use, representing how much of its value has been used up.

Allowance

A provision in accounting for a reduction in the value of receivables or inventories, often related to potential bad debts or damaged goods.

Fair Value

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.