The Purpose of Posting Is To

question 1

Multiple Choice

The purpose of posting is to:

• A) record the transactions in chronological order in the journal.
• B) provide an explanation of the transaction.
• C) update the account balances in the ledger.
• D) correct a previous entry.

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Definitions:

Supply Chain Strategy

The approach taken by a company to manage the flow of goods, information, and finances from the acquisition of raw materials to the delivery of the product to the end consumer.

Warehousing Functions

Activities related to the storage of goods in a warehouse such as receiving, storing, managing inventory, and preparing goods for distribution.

Push Strategy

A marketing strategy that aims to "push" products towards consumers through channels such as promotions and sales force efforts rather than creating demand through consumer interest.

Sustainable Sourcing

A process of purchasing goods and services that takes into account the long-term impact on people, profits, and planet.