PRC-1 · Chapter 3 · Question 46 of 100
In the accounting cycle, the specific administrative process of transferring financial transaction data from the books of prime entry into the respective ledger accounts is formally referred to as:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Posting
Explanation
Posting is the technical term for the process of transferring the debits and credits recorded in the day books or journals into the corresponding individual and general ledger accounts.
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