Question

Select the most appropriate alternative from the alternatives given below and rewrite the statement.

Recording of transaction in the journal is called _____ .
a) Posting
b) Casting
c) Tallying
d) Journalising

Answer 1

Recording of transaction in the journal is called Journalising.

Explanation:
The process of recording transactions in the book of original entry, i.e. a Journal, is known as Journalising.
The process of posting entries from the Journal to the Ledger is known as posting. All the entries from the Journal are posted in their respective Ledger Accounts.
The totaling of Sales and Purchases Books is known as casting.
Tallying means matching the debit and credit totals of the columns.