One User of Accounting Information with an Indirect Financial Interest

question 83

Multiple Choice

One user of accounting information with an indirect financial interest in a business is

• A) a creditor.
• B) a financial adviser.
• C) management.
• D) an investor.

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Definitions:

General Journal

A comprehensive record of all financial transactions of a company, used to make entries not suited for specific ledgers.

Posting

In accounting, posting refers to the process of transferring entries from the journal into their respective accounts in the ledger, for the purpose of organizing and summarizing financial information.

Journal

A detailed record where all financial transactions of a business are initially recorded before transfer to accounts in the general ledger.

Ledger

A book or other collection of financial accounts of a particular type.