The process of recording a transaction in the journal is called:
A)posting.
B)summarizing.
C)journalizing.
D)preparing the financial statements.

Question

Quizplus · Accepted Answer

The process of recording a transaction in the journal is called journalizing. The other options are not correct - Posting refers to transferring the information from the journal to the ledger, summarizing involves creating a condensed report of several transactions, and preparing the financial statements involves compiling information from the ledger and other sources.

The Process of Recording a Transaction in the Journal Is