In Accounting, the Process of Posting Involves Transferring Data From

question 27

Multiple Choice

In accounting, the process of posting involves transferring data from:

• A)the source documents to the journal.
• B)the source documents to the ledger.
• C)the journal to the ledger.
• D)the ledger to the journal.

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Definitions:

Base Year

A specific year chosen as a point of reference for comparing economic data, such as price levels, over time.

Inflation

The tempo at which the general price level of goods and services rises, leading to a fall in the ability to purchase.

Disinflation

A drop in the pace of inflation, showing that the rate at which prices of goods and services climb is slowing down.

Deflation

A decrease in the general price level of goods and services, often indicating a contraction in the economy.