The Correct Term for the Process of Transferring Amounts from a Book

question 25

Multiple Choice

The correct term for the process of transferring amounts from a book of original entry to specific assets, liabilities, revenues, expenses, and stockholders' equity items is

• A)Double-entry system
• B)Posting
• C)Credit
• D)Journalizing

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Definitions:

Continuous Basis

A term indicating that an activity or action is conducted without interruption or cessation; ongoing.

Tender Offer

A public offer made by an individual, company, or group to purchase a large percentage of another company's shares or bonds at a specified price.

Class of Shares

Different categories of stock in a corporation, each conferring distinct rights and privileges.

Due Diligence Defense

A legal defense where a defendant shows that they have taken all necessary steps to avoid violating the law, usually in relation to investments or financial transactions.