Posting, a Part of the Accounting Process, Refers To

question 10

Multiple Choice

Posting, a part of the accounting process, refers to:

• A) copying amounts from the general ledger to the financial statements
• B) copying amounts from the financial statements to the general ledger
• C) copying amounts from the journal to the appropriate accounts in the general ledger
• D) copying amounts from the accounts in the general ledger to the journal

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Definitions:

Fair Value Hedge

A hedging strategy used to protect against changes in the fair value of assets or liabilities.

Account Payable

The amount of money owed by a company to its creditors for goods or services that have been delivered or used, but not yet paid for.

Call Option

A financial contract that gives the holder the right, but not the obligation, to buy an underlying asset at a specified price within a specific time period.

Cash Flow Hedge

A financial strategy to manage the risk of cash flow fluctuations due to changes in the value of underlying assets or liabilities.