The Principal Purpose of Posting Is to

question 10

Multiple Choice

The principal purpose of posting is to

• A)help identify errors made in the journal.
• B)accumulate the effects of journalized transactions in the individual accounts.
• C)enter transactions directly into the ledger.
• D)help determine if the financial statements are ready to be prepared.

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Definitions:

Investment Companies

Firms that invest the funds of their clients into securities that match declared financial objectives.

Code-Law Country

A country where the legal system is based on a comprehensive, codified set of laws, as opposed to common law systems.

Financial Institution Regulators

Authorities or bodies that oversee the operations and compliance of financial institutions to ensure stability and integrity in the financial system.

NFPs

Not-For-Profit organizations, which operate for purposes other than making a profit for owners or shareholders.