Posting Is the Process Of

question 35

Multiple Choice

Posting is the process of:

• A)Transferring debit and credit entries from the journal into the appropriate ledger accounts.
• B)Determining that the dollar amount of debit entries recorded in the ledger is equal to the dollar amount of credit entries.
• C)Entering information into a computerized data base.
• D)Preparing journal entries to describe each business transaction.

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Definitions:

Operating Expenses

Operating expenses are the costs associated with the day-to-day operations of a business, excluding direct production costs, such as rent, utilities, and payroll.

Cost of Goods Sold

Costs directly connected to the creation of a company's sold goods, covering materials and workforce expenses.

Profit Center

A branch or division of a company that is responsible for its own revenues and expenses, and thus its own profitability.

Generates Revenues

The process of creating income for a business through various activities such as sales, services, and investments.