Which of the Following Is an Approach Used to Determine

question 57

Multiple Choice

Which of the following is an approach used to determine posting material?

• A) Dual approach.
• B) Percentage approach.
• C) Qualitative approach.
• D) Planning approach.

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Definitions:

Balance

The amount of money present in an account or the difference between the total debits and credits in an account.

Wrong Account

An error where financial transactions are recorded in an incorrect account, potentially affecting the accuracy of financial statements.

Chart of Accounts

An organized list of all accounts in a business's financial system, which helps in recording transactions in the correct accounts.

Special Ledger

A set of subsidiary accounts or a separate bookkeeping system that provides detailed information in addition to the general ledger.