Which of the following statements is true?
A) An entry in a general ledger account can be traced to the trial balance by referring to the page listed in the posting reference column of that ledger account.
B) The posting of an amount recorded in the general ledger can be verified by referring to the account number listed in the posting reference column on that line in the general journal.
C) Business transactions are recorded first in the general ledger, then that information is transferred to the general journal.
D) No explanation is needed for any entry in the general journal.
Correct Answer:
Verified
Q1: For liabilities, equity, and revenue accounts, debit
Q2: The _ side of a liability account
Q3: Hesson Properties, Inc.
Transactions for Hesson Properties
Q5: Bravada Enterprises
Transactions for Bravada Enterprises are
Q6: Several terms which represent components of an
Q7: For assets, expenses, and dividend accounts, credit
Q8: A(n) _ is a list of all
Q9: Presented below are several accounts from the
Q10: Listed below are selected accounts from the
Q11: Inferex Corporation
The following transactions were incurred by
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents