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What is the purpose of posting the journal entries to ledger

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Reference no: EM132739287

Problem 1: What is the purpose of posting the journal entries to the ledger?

a. To classify the transactions and group them according to the accounting element affected

b. To be able to determine the balance of each account

c. To become the source of the balances that will be used in the preparation of the trial balance

d. All of the above

Problem 2: Which of the following is an internal user of the financial data?

a. Employees and their labor union

b. Stockholders

c. Management

d. Customers

Reference no: EM132739287

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