Question

process of writing transaction in journal is
is called posting
(True False)​

Answer 1

...........Yes that's true.......

Answer 2

Procedure of writing transaction in journal:

• The above given statement is incorrect i.e. Writing process of transaction in journal is called posting.

• Actually, the process of writing transaction in journal is mainly called journalizing.

• A journal may be demarcated as the book of original or prime entry comprising a sequential record of the transactions from which posting is done to the ledger. The transactions are logged first in the journal in the order in which they arise. The process of recording the transactions in a journal is named as journalizing.

Hope it helped..