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Accounting For Managers
?
The following comments all relate to the recording process. Which of these statements is correct?
The general ledger is a chronological record of transactions.
The general ledger is posted from transactions recorded in the general journal.
The trial balance provides the primary source document for recording transactions into the general journal.
Transposition is the transfer of information from the general journal to the general ledger.
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
Correct answer: (B)
The general ledger is posted from transactions recorded in the general journal.
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