The Process of Transferring General Journal Entry Information to the Ledger

question 84

Multiple Choice

The process of transferring general journal entry information to the ledger is called:

• A)Double-entry accounting.
• B)Posting.
• C)Balancing an account.
• D)Journalizing.
• E)Not required unless debits do not equal credits.

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Definitions:

Virtual Account Number

A unique identifier used in financial transactions to represent a user's actual account information securely, often to protect financial data in online transactions.

Electronic Payment

Electronic payment refers to a method of making transactions or paying for goods and services through electronic means over the internet, without the use of check or cash.

Wire Transfer

An electronic method of moving funds from one bank or credit institution to another, often used for large transactions.

Top-Level Domain

The highest level in the hierarchical Domain Name System of the Internet, after the root domain. Examples include .com, .org, and .net.