The Posting Process Will Include the Transfer of Which of the Following

question 79

Multiple Choice

The posting process will include the transfer of which of the following data from the journal to the account?

• A) date, amount (debit or credit)
• B) date, amount (debit or credit), journal page number
• C) amount (debit or credit), account number
• D) date, amount (debit or credit), account number

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Definitions:

Accounts Receivable

Outstanding payments due to a firm from its customers for delivered goods or services awaiting payment.

Cost of Goods Sold

The total direct costs attributed to producing goods, including materials and labor, which are sold during a certain period.

Total Asset Turnover

A financial ratio that measures a company’s effectiveness in using its assets to generate sales revenue.

Inventory Turnover

A ratio that shows how many times a company's inventory is sold and replaced over a specified period, indicating the efficiency of inventory management.