The Process of Writing a Transaction in a Ledger Is

question 59

True/False

The process of writing a transaction in a ledger is called journalizing.

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Definitions:

Transaction

An agreement or communication carried out between parties to buy, sell, or exchange goods, services, or financial assets.

Revenue

Income that a business receives from its normal business activities.

Recorded

The action of documenting financial transactions in accounting records to keep an accurate and organized track of a company's financial activities and position.

Cash Received

The total amount of money, including cash, checks, and electronic transfers, that is received by a business during a specified period.