The Process of Initially Recording Business Transactions in a Journal

question 37

Multiple Choice

The process of initially recording business transactions in a journal is:

• A)sliding.
• B)posting.
• C)journalizing.
• D)transposing.

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Definitions:

S Corporation

A type of corporation in the United States that meets specific Internal Revenue Code requirements, allowing profits and some losses to be passed directly to owners' personal income without being subject to corporate tax rates.

Business Ownership

The legal possession and responsibility for an enterprise, involving rights to the profits and risks of losses.