Which of the Following Statements Is Characteristic of the Accounting

question 212

Multiple Choice

Which of the following statements is characteristic of the accounting cycle?

• A) If a debit entry is made to an account in the general journal, the same account will receive a credit entry when the amount is posted to the general ledger.
• B) If all transactions are correctly posted to the general ledger, the sum of the accounts with debit balances should be equal to the sum of the accounts with credit balances.
• C) Posting occurs when numbers in the general ledger accounts are transferred to the general journal.
• D) If the sum of the debit balances equals the sum of the credit balances, this proves there were no mistakes made in the posting process.

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