PRC-1 · Chapter 3 · Question 79 of 100
What is the specific accounting term for the process of transferring financial figures from the books of prime entry into the ledger accounts?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Posting
Explanation
Posting is the procedural step in the accounting cycle where the summarized data from journals and day books are formally entered into the appropriate debit and credit sides of the ledger accounts.
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