The Posting Reference Columns Are Used to Trace Transactions from the Ledger

question 75

Multiple Choice

The Posting Reference columns are used to trace transactions from the ledger to the journal. What will be entered in the Posting Reference column of (1) the journal and
(2) the ledger?

• A) (1) the amount of the debit or credit and (2) the journal page number
• B) (1) the journal page number and (2) the date of the transaction
• C) (1) the journal page number and (2) the account number
• D) (1) the account number and (2) the journal page number

---

Definitions:

Cumulative

Describes something that increases in quantity or effect over time, often in reference to data or statistics that are added together.

Participating

Usually refers to the involvement or engagement in an activity or event, often used in the context of individuals or entities engaging in business operations or investments.

Journal Entries

Records of financial transactions in the accounting system in chronological order.

Par Value

The nominal or face value of a bond, stock, or coupon as stated by the issuer.