Which of the following statements is true?
A) If a debit entry is made to an account in the general journal, the same account will receive a credit entry when the amount is posted to the general ledger.
B) If all transactions are correctly posted to the general ledger, the sum of the accounts with debit balances should be equal to the sum of the accounts with credit balances.
C) Posting occurs when numbers in the general ledger accounts are transferred to the general journal.
D) If the sum of the debit balances equals the sum of the credit balances, this proves that there were no mistakes made in the posting process.
B
You might also like to view...
Plant closings, refusing to hire pro-union applicants, firing or harassing union supporters and using permanent strike replacements are all examples of:
A. Participatory management. B. Adversarial HR management. C. Union suppression. D. Union substitution.
Optimization models, which generate solutions that maximize or minimize some objective subject to a set of constraints, fall into the category of a. prescriptive analytics. b. predictive analytics
c. descriptive analytics. d. diagnostic analytics.
The adjusted trial balance shows:
A) accounts that may still be out of balance. B) revenue and expense amounts only. C) numbers ready to be transferred to the financial statements. D) assets, liabilities and Stockholders' Equity amounts only.
With reference to the cascade approach to setting objectives, an organization's divisional and departmental objectives are immediately derived from its:
A. short-term performance objectives. B. code of conduct. C. subunit objectives. D. statement of vision.