Accounting (Chapters 4-6)

All corrections for posting errors should be made in a way that leaves no question as to the correct amount

• True
• False

 A group of accounts is called a ledger.

• True
• False

When posting is complete, the Post. Ref. column in the General Journal is completely filled in with account numbers.

• True
• False

When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number 515.

• True
• False

The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records current is known as file maintenance.

• True
• False

When accounts are arranged in a general ledger, account numbers are assigned, and the chart of accounts is kept up to date, the accounting personnel are

• a. posting.
• b. journalizing.
• c. doing file maintenance.
• d. none of these.

The last step in the posting procedure is to write the

• a. entry date in the Date column of the account.
• b. journal page number in the Post. Ref. column of the account.
• c. account number in the Post. Ref. column of the journal.
• d. entry amount in the Debit or Credit column of the account.

The second step in the posting procedure is to write the

• a. entry date in the Date column of the account.
• b. journal page number in the Post. Ref. column of the account.
• c. account number in the Post. Ref. column of the journal.
• d. entry amount in the Debit or Credit column of the account.

An account number in the journal’s Post. Ref. column shows

• a. the date of the entry.
• b. that work on that journal page is completed.
• c. the account to which an amount is posted.
• d. none of these.

Posting references in a journal are

• a. the first item recorded when posting.

• b. always placed in an account’s Post. Ref. column.

• c. not necessary.

• d. none of these.