Which of the Following Statements Is True

question 32

Multiple Choice

Which of the following statements is true?

• A) If a debit entry is made to an account in the general journal, the same account will receive a credit entry when the amount is posted to the general ledger.
• B) If all transactions are correctly posted to the general ledger, the sum of the accounts with debit balances should be equal to the sum of the accounts with credit balances.
• C) Posting occurs when numbers in the general ledger accounts are transferred to the general journal.
• D) If the sum of the debit balances equals the sum of the credit balances then there were no mistakes made in the posting process.

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Definitions:

Sociocultural Considerations

Aspects of social and cultural contexts that influence behaviors, practices, and policies, recognizing the impact of societal and cultural factors.

Economic Security

The condition of having stable income or other resources to support a standard of living now and in the foreseeable future.

Underemployment

A situation in which workers are employed in positions requiring less education and skill than they have.

Productivity

A measure of the efficiency of production, often calculated as the ratio of outputs produced to inputs used.