Which of the following is true?
A) The ledger account form maintains a running balance of the account.
B) When recording business transactions, it is not important that one use the exact account titles as listed in the chart of accounts.
C) The process of transferring information from the journal to the ledger is called journalizing.
D) All of the answers listed are correct.

Question

Quizplus · Accepted Answer

The ledger account form is designed to maintain a running balance of the account, allowing for easy monitoring of transactions and account activity.

Answer: B is false. It is important to use the correct account titles in order to ensure accurate record keeping and to facilitate analysis and reporting.

Answer: C is false. The process of transferring information from the journal to the ledger is called posting, not journalizing.

Therefore, the best answer is A.

Which of the Following Is True