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Business Studies

Types of Plans

Recording of ...

Question

Recording of an entry from journal to ledger is called as __________.

A

Balancing

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B

Posting

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C

Totalling

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D

Transferring

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Solution

The correct option is C Posting
The process of recording transactions in the journal is called Journalizing. Once journalizing process is completed, the journal entry provides a complete and useful description of the event's effect on the organisation.

The process of transferring journal entry to individual accounts is called posting.

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Similar questions

Q. State whether the following statements are ‘True or False”.

1) Ledger is known as the book of original entry.
2) Narration is not necessary in ledger.
3) All accounts are closed down at the end of the accounting year.
4) Recording of a transaction in Journal is called posting.
5) Balance of personal account is brought down for the next year.
6) All transactions are recorded directly in ledger.
7) Ledger Folio and index is necessary for ledger.
8) Ledger posting is not necessary for Journal Proper.
9) Ledger Folio is recorded in Journal.
10) Ledger posting is made before passing Journal entry.

Q. Transferring an entry from Journal to ledger is called journalisation.

Q. Select the most appropriate alternatives from those given below and rewrite the sentence :

Recording of an entry from Journal to ledger is called as ________.
a) balancing
b) posting
c) totalling
d) transferring

Q. ____________ is a process of transferring journal entry to ledger.

Q. Transferring journal entry from journal to ledger is called journalising.

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