The principle purpose of posting is to: A. accumulate the effects of journalised transactions in the individual accounts. B. enter transactions directly into the ledger. C. help determine if the financial statements are ready to be prepared. D. help identify errors made in the journal.

Posting: Group of answer choices should be performed in account number order. accumulates the effects of journalised transactions in the individual ledger accounts. involves transferring all debits and credits on a journal page to the trial balance. is accomplished by examining ledger accounts and seeing which ones need updating.

All of the following statements are correct except*a. The work sheet cannot be used as a basis for posting to ledger accounts.b. The work sheet is essentially a working tool of the accountant.c. The work sheet is distributed to management and other interested parties.d. Financial statements can be prepared directly from the worksheet before journalizing and posting the adjusting entries.

What is the primary purpose of a journal entry?Question 19Answera.Provide a summary of financial transactions for a specific period.b.Calculate the total assets of a company.c.Calculate the net income of a company.d.Provide a detailed description of a financial transaction.

In bookkepping, posting a transaction means:Group of answer choicesEntering items in a cash bookMaking the first entry of double entry systemTransferring the debit and credit items from the journal to their respective accounts in the ledgerAll of the answerNone of the answ

Which of the following is correct regarding posting a transaction?Multiple choice question.Posting takes place once during an accounting period.Posting means to transfer journal information to a ledger.Posting means to enter transactions into a journal.