Answered: No AI The accounting cycle begins…

No AI The accounting cycle begins with:A. Posting to the ledgerB. Journalizing transactionsC. Preparing the financial statementsD. Adjusting entries

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 21MC: ________ takes all transactions from the journal during a period and moves the information to a...

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The accounting cycle begins with:
A. Posting to the ledger
B. Journalizing transactions
C. Preparing the financial statements
D. Adjusting entries

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The statement that is NOT CORRECT about the general ledger is __________ . a. postings are based on source documents. b. the T-account format or ledger running balance format may be adopted. c. It follows the sequence of the accounts in the chart of accounts. d. the opening balances are entered before posting current transaction entries.
Which of the following is not transferred from the journal to the ledger in the posting process? a.Date b.Explanation c.Debit and credit d.Amount
________ takes all transactions from the journal during a period and moves the information to a general ledger (ledger). A. Hitching B. Posting C. Vetting D. Laxing
Transferring information from the journal to the ledger is called a. preparing the financial statements. b. journalizing. c. posting. d. tracking.
The __________ is used to determine where the amount in the ledger comes from. a. debit amount b. posting reference (or cross-reference) c. journal d. none of the above
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Which of the following accounting records is the main source of information used to prepare thefinancial statements?A. journal entriesB. T-accountsC. trial balanceD. chart of accounts
Need help with accounting review
Which of the following accounting connotes posting to the ledger? * O Recording O Ledgering Journaling O Classifying
Which of the following journal entries is not applicable to real accounts? a. Correcting entries b. Reversing entries c. Adjusting entries d. Closing entries