Ch 7 posting journal entries to general ledger

The accounts in a business are kept in a book called a ledger

• True

• False

Posting is the process of transferring information from the journal to the ledger accounts

• True

• False

Every posting require the year, month, day to be entered in the date column of the ledger account

• True

• False

If an account has a zero balance, it is not necessary to list it on the trial balance

• True

• False

An example of a transposition error is writing the number 45 when you should have written 54

• True

• False

An error discovered before posting is usually corrected with a journal entry

• True

• False

Opening an account in a ledger involves writing the account title and the account number on the account form

• True

• False

When posting a correcting entry, the phrase 'correcting entry' is usually written in the explanation column of the ledger account

• True

• False

If you were to write $190 as $19 this mistake would be called what?

• trial balance

• posting

• transposition error

• slide error

Errors discovered after posting has taken place requires...

• posting

• correcting entry

• trial balance

• proving the ledger