Posting is the step in the accounting cycle where errors are most likely to happen.

Question

Quizplus · Accepted Answer

Posting involves transferring the information from the journal entries to the general ledger accounts. During this process, errors such as transcribing mistakes, miscalculations, and omissions can occur. It is important to review the accuracy of the postings to ensure that financial statements are reliable and free from material misstatements.

Posting Is the Step in the Accounting Cycle Where Errors