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What is the difference between the journal and the ledger

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Reference no: EM132899809

Question 1: The process of transferring information from the journal to the ledger is known as:

Option 1: Posting

Option 2: Forwarding

Option 3: Opening an account

Option 4: Journalizing

Question 2: What is the difference between the journal and the ledger?

Option 1: Journal shows account balances, ledger shows transactions.

Option 2: The way the date is recorded.

Option 3: Journal shows transactions, ledger shows account balances.

Option 4: There is no difference, they are the same.

Question 3: The process of continuing an account on a new page by carrying all relevant information from the completed page:

Option 1: Opening an account

Option 2: Journalizing

Option 3: Forwarding

Option 4: Posting

Reference no: EM132899809

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