The process of recording transactions in different journals is called_________?
Correct answer: D. Journalizing
- A. Posting
- B. Entry making
- C. Adjusting
- D. Journalizing
Explanation
Journalizing means recording transactions in the appropriate journals in chronological order. Posting is the later transfer of those journal entries to ledger accounts.
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About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
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