Which of the Following Statements Is True

question 3

Multiple Choice

Which of the following statements is true?

• A)The first capital adequacy rules were implemented in Australia in 1987.
• B)The first capital adequacy rules were implemented in Australia in 1988.
• C)The first capital adequacy rules were implemented in Australia in 1989.
• D)The first capital adequacy rules were implemented in Australia in 1990.

---

Definitions:

Journalizing

The process of recording transactions in a journal. This is the first step in the accounting cycle, where financial transactions are initially recorded.

Posting Process

The procedure of recording financial transactions into the appropriate accounts within the ledger.

Amount Incorrectly

A term relating to a numerical value or sum that has been calculated, reported, or entered wrongly.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to ensure a company's bookkeeping system is mathematically correct.