Posting a Transaction Means ________

question 89

Multiple Choice

Posting a transaction means ________.

• A) calculating the balance in an account
• B) transferring data from the journal to the ledger
• C) preparing a summary of account balances
• D) finding the account number in the chart of accounts

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Definitions:

Contribution Format

A way of presenting an income statement where variable and fixed costs are shown separately, highlighting the contribution margin.

Segmented Income Statement

An income statement that divides data by segment, department, or product line to analyze each segment's financial performance.

Contribution Format

A form of income statement where costs are divided into variable and fixed categories, highlighting the contribution margin of products.

Common Fixed Expenses

Expenses that do not change with the level of production or sales and are shared by multiple products or departments within a company.