The final step in the recording process is to transfer the journal information to the
A) trial balance.
B) financial statements.
C) ledger.
D) file cabinets.

Question

Quizplus · Accepted Answer

The ledger is where all of the journal information is organized by account, so transferring the information from the journal to the ledger is the final step in the recording process. The trial balance is a summary of all account balances used to prepare financial statements, and the financial statements themselves are created using the information in the ledger. File cabinets may be used to physically store the documents, but are not directly involved in the recording process.

The Final Step in the Recording Process Is to Transfer