What Is the Term for Transferring Data from the General

question 16

Multiple Choice

What is the term for transferring data from the General Journal to the General Ledger?

• A)Cross-referencing
• B)Ledgering
• C)Posting
• D)Transcribing

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Definitions:

Interest Cost Component

Part of pension expense calculation that represents the increase in the pension obligation due to the passage of time.

Defined Benefit Pension Plan

A retirement plan where the employer guarantees a specified pension payment upon the employee's retirement, determined by a formula considering factors such as salary history and duration of employment.

Anticipated Life Span

The expected duration or period during which an asset, product, or individual is considered useful or viable.

Pension Expense

The cost recognized in an accounting period related to the company's pension plan.