Accounting 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

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

• True

• False

ally, all businesses should post on a daily basis; however, businesses having few transactions may post only once a week.

• True

• False

Which of the following steps in the accounting cycle is in the correct order?

• Post to the ledger, prepare a trial balance, journalize, analyze each transaction, and collect source documents

• Analyze each transaction, journalize, collect source documents, prepare a trial balance, and post

• Collect and verify source documents, analyze each transaction, journalize each transaction, post to the ledger, and prepare a trial balance

• Collect and verify source documents, analyze each transaction, prepare a trial balance, journalize each transaction, and post to the ledger.