Question 1

The last step in the posting procedure is to write the

Accepted Answer

A)   entry date in the Date column of the account.
B)   journal page number in the Post. Ref. column of the account.
C)   account number in the Post. Ref. column of the journal.
D)   entry amount in the Debit or Credit column of the account.

Question 2

If an error requires a correcting entry, the source document describing the correction to be made

Accepted Answer

A)   depends on the type of error made.
B)   is a check stub.
C)   depends on the type of correcting entry.
D)   is a memorandum.

Question 3

The only use for the Post. Ref. column of a journal and general ledger is to indicate which entries in the journal still need to be posted if posting is interrupted.

Accepted Answer

A) True 
 B)False

Question 4

The steps for posting are to write the date, the journal page number, the amount, and the balance.

Accepted Answer

A) True 
 B)False

Question 5

When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number 515.

Accepted Answer

A) True 
 B)False

Question 6

When accounts are arranged in a general ledger, account numbers are assigned, and the chart of accounts is kept up to date, the accounting personnel are

Accepted Answer

A)   posting.
B)   journalizing.
C)   doing file maintenance.
D)   none of these.

Question 7

The Cash account is the first asset account and is numbered 110.

Accepted Answer

A) True 
 B)False

Question 8

The second step in the posting procedure is to write the

Accepted Answer

A)   entry date in the Date column of the account.
B)   journal page number in the Post. Ref. column of the account.
C)   account number in the Post. Ref. column of the journal.
D)   entry amount in the Debit or Credit column of the account.

Question 9

The procedure for transferring information from a journal entry to a ledger account is

Accepted Answer

A)   posting.
B)   journalizing.
C)   file maintenance.
D)   none of these.

Question 10

Errors discovered after an entry is posted may be corrected by ruling through the item.

Accepted Answer

A) True 
 B)False

Exam 4: Posting to a General Ledger

The last step in the posting procedure is to write the

Correct Answer
verified

When accounts are arranged in a general ledger, account numbers are assigned, and the chart of accounts is kept up to date, the accounting personnel are

Correct Answer
verified

Errors discovered after an entry is posted may be corrected by ruling through the item.

Correct Answer
verified

The procedure for transferring information from a journal entry to a ledger account is

Correct Answer
verified

The steps for posting are to write the date, the journal page number, the amount, and the balance.

Correct Answer
verified

When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number 515.

Correct Answer
verified

The only use for the Post. Ref. column of a journal and general ledger is to indicate which entries in the journal still need to be posted if posting is interrupted.

Correct Answer
verified

The second step in the posting procedure is to write the

Correct Answer
verified

The Cash account is the first asset account and is numbered 110.

Correct Answer
verified

If an error requires a correcting entry, the source document describing the correction to be made

Correct Answer
verified

Exam 4: Posting to a General Ledger

The last step in the posting procedure is to write the

Correct AnswerverifiedShow Answer

When accounts are arranged in a general ledger, account numbers are assigned, and the chart of accounts is kept up to date, the accounting personnel are

Correct AnswerverifiedShow Answer

Errors discovered after an entry is posted may be corrected by ruling through the item.

Correct AnswerverifiedShow Answer

The procedure for transferring information from a journal entry to a ledger account is

Correct AnswerverifiedShow Answer

The steps for posting are to write the date, the journal page number, the amount, and the balance.

Correct AnswerverifiedShow Answer

When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number 515.

Correct AnswerverifiedShow Answer

The only use for the Post. Ref. column of a journal and general ledger is to indicate which entries in the journal still need to be posted if posting is interrupted.

Correct AnswerverifiedShow Answer

The second step in the posting procedure is to write the

Correct AnswerverifiedShow Answer

The Cash account is the first asset account and is numbered 110.

Correct AnswerverifiedShow Answer

If an error requires a correcting entry, the source document describing the correction to be made

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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