When an Entry Is Posted, the Last Step in the Process

question 86

Multiple Choice

When an entry is posted, the last step in the process is

• A) recording the explanation.
• B) placing the account number in the Post. Ref. column of the journal.
• C) placing the journal page number in the Post. Ref. column of the ledger.
• D) placing the account number in the Post. Ref. column of the ledger.
• E) placing the balance of the account in either the debit or credit column in the ledger.

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Definitions:

Proposed Interstate Highway

A suggested or planned addition to the interstate highway system that may be under consideration or development but is not yet in existence.

Shareholders

Entities or individuals that own a part of a corporation through their stock holding, which entitles them to a share of the company’s profits and a say in its operations.

Surrender

In legal and financial contexts, to surrender means to voluntarily give up a right, position, property, or claim, often in exchange for something else or to end a dispute.

Preferred Stock

A type of stock that gives its holders precedence over common stockholders in terms of dividends and claims on assets, but typically does not have voting rights.