When Recording a Business Transaction into the General Ledger, Certain

question 22

Multiple Choice

When recording a business transaction into the general ledger, certain steps are followed. Identify the statement below that is NOT CORRECT regarding this process.

• A)All transactions are recorded first in the general journal and then they are transferred to the general ledger.
• B)After posting a transaction, the new balance in an account can be seen in the general ledger.
• C)The process of transferring data from the journal to the ledger is called posting.
• D)All transactions are recorded first in the general ledger and then they are transferred to the journal.

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Definitions:

Approach-Avoidance Conflict

A psychological struggle occurring when a goal is both appealing and disconcerting to an individual.

Approach-Approach Conflict

A psychological dilemma occurring when an individual must choose between two desirable outcomes.

Avoidance-Avoidance Conflict

A situation where a person must choose between two equally unattractive options or outcomes.

Joint Decisions

The process of making decisions collaboratively among two or more parties or stakeholders, often involving negotiation or consensus-building.