Posting Is the Transfer of Journal Entry Information to the Ledger

question 180

True/False

Posting is the transfer of journal entry information to the ledger.

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Definitions:

Laws

The system of rules that a particular country or community recognizes as regulating the actions of its members and may enforce by the imposition of penalties.

LLCs

Limited Liability Companies are flexible forms of business structure that combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

Ownership

The legal right or title to something, such as a company, trademark, or property, often accompanied by certain responsibilities and benefits.

Small Businesses

Entities involved in commercial, industrial, or professional activities characterized by their small size in terms of employees, revenue, or operations.