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JAMB Principles of Accounts 1997 Question 8

Question 8

Double Entry and the Ledger

The term 'posting' in Accounting refers to

  1. A.recording entries in the journal
  2. B.transferring the balances in the ledger to the trial balance
  3. C.tracing amounts from the journal to the ledger to find errors
  4. D.transferring entries to the ledger from the journal.
Show the answer and explanation

Answer: D (transferring entries to the ledger from the journal.)

Explanation

Posting means transferring entries from the books of original entry (journals) into the ledger accounts.