The Process of Transferring Data from the General Journal to the General

question 3

Multiple Choice

The process of transferring data from the general journal to the general ledger is called

• A)journalizing.
• B)ledgerizing.
• C)posting.
• D)balancing.

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Definitions:

Deferred Annuity

An insurance contract that delays payments of income, installments or a lump sum until the investor elects to receive them.

Permanent Pension

A pension that is paid throughout the lifetime of the beneficiary, often until death.

Compounded Monthly

Interest calculation method where interest is added to the principal on a monthly basis, leading to interest on interest in subsequent months.

Monthly Investments

Regular investments made on a monthly basis, often part of a savings or investment strategy.