The process of transferring the credit and debit items form a journal to their respective accounts in the ledger is termed as ___________.

Balancing

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Invoicing

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Double entry

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Posting

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Solution

The correct option is D Posting
Journal is a book of recording all the transactions. It does not give a summarize details of each of the account. An individual account is opened in ledger to record all the specific transactions of each activity. Each journal item is transferred to the ledger in their respective account. It is termed as posting.

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The process of transferring the debit & credit items from a journal to their respective accounts in ledger is called?

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