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:

Tax Rate

The rate at which taxes are levied on a person or a business entity.

Depreciable Non-Current Asset

A long-term asset subject to depreciation, reflecting its wear and tear, obsolescence, or reduction in useful life over time.

Useful Life

The estimated period over which an asset is expected to be used before it is fully depreciated and considered no longer useful for business operations.

Tax Rate

The proportion of income that is charged as tax to a person or company.