In the accounting cycle,after examining source documents and recording transactions in an accounting journal,what is the next step taken by a financial manager?
A)Closing the books
B)Posting recorded transactions
C)Gathering credit card receipts
D)Preparing a trial balance
E)Balancing the accounting equation

Question

Quizplus · Accepted Answer

After recording transactions in the journal, the next step is to post these transactions to the ledger accounts, which is known as posting recorded transactions.

In the Accounting Cycle,after Examining Source Documents and Recording Transactions