Which of the Following Is the Last Step of Journalising

question 76

Multiple Choice

Which of the following is the last step of journalising an entry?

• A)Determine whether each account has increased or decreased.
• B)Identify each account affected and its type.
• C)Record the transaction in the journal,including a brief explanation.
• D)Post the accounts to the ledger.

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Definitions:

Industry Regulation

The imposition of rules by a government, along with mechanisms for their enforcement, designed to modify behaviors within specific industries.

Reserve Requirement

A regulation set by central banks determining the minimum amount of reserves that must be held by a commercial bank.

Credit Availability

Credit availability refers to the ease with which individuals and businesses can obtain loans or credit from financial institutions, which can significantly affect economic activity by influencing spending and investment.

Funds Lendability

The suitability and capability of funds or capital to be lent to borrowers, often considered by financial institutions.