MCQ
True or False
State whether the following statements are ‘True or False’ with reasons.
The process of recording a transaction in the Journal is called Posting.
Options
True
False
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Solution
This statement is False.
The process of transferring entries from the journal into appropriate account is called posting, which is a necessary or basic process of accounting to know the balance of each account.
Concept: Posting of Entries from Journal/Subsidiary Books to Ledger
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