Posting

Posting

Let's practice!

Multiple Choice

If a debit is posted to an asset account, the amount of the debit (p. 98)

• will be subtracted from the previous balance to determine the new debit account balance

• will be added to the previous balance to determine the new debit account balance

• will be subtracted from the previous balance to determine the new credit account balance

• will be added from the previous balance to determine the new credit account balance

Multiple Choice

After a journal has been posted, (p. 102)

• the Post Ref. column on the Journal is filled in with the account number

• the Post Ref. column on the Journal is filled in with a page number

• the Post Ref. column on the Journal is filled in with the source document number

• the Post Ref. column on the Journal is filled in with the invoice number

Multiple Choice

An additional journal entry made to correct an incorrect journal entry (p. 109)

• file maintenance

• opening an account

• proving cash

• correcting entry

Multiple Choice

Determining that the amount of cash agrees with the balance of the Cash account in the accounting records (p. 107)

• posting

• file maintenance

• correcting entry

• proving cash

Multiple Choice

Transferring information from a journal entry to a ledger account (p. 98)

• journaling

• posting

• file maintenance

• correcting entry

Multiple Choice

Writing an account title and a number on the heading of an account. (p. 96)

• journaling

• opening an account

• posting

• correcting entry

Multiple Choice

A ledger is a (p. 94)

• group of accounts

• form to enter transactions in chronological order

• business paper from which information is obtained for an entry

• a document used to record sales

Multiple Choice

A group of accounts is called a/an

• ledger

• opening an account

• posting

• account number

Multiple Choice

A ledger that contains all accounts needed to prepare financial statements is called a/an

• general ledger

• ledger

• accounts

• opening an account

Multiple Choice

A list of accounts used by a business is called a

• chart of accounts

• credit

• debit

• T account

Multiple Choice

Transferring information from a journal entry to a ledger account is called

• posting

• general ledger

• opening an account

• transferring

Multiple Choice

The number assigned to an account is called a/an

• account number

• general ledger

• ledger

• file maintenance

Multiple Choice

A journal entry made to correct an error in the ledger is called a /an

• correcting entry

• reversing entry

• adjusting entry

• general entry