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What is true about posting to the general ledger?

It involves double-checking the journal and is not necessary.

It is an optional step in the accounting cycle.

It is the process of carrying over the debits and credits from the journal to the ledger.

It is only performed by the chief financial officer (CFO).

1 answer

The statement that is true about posting to the general ledger is:

It is the process of carrying over the debits and credits from the journal to the ledger.

Posting to the general ledger is a crucial step in the accounting cycle, where entries from journals (which initially record transactions in chronological order) are transferred to the general ledger accounts. This ensures that the financial statements can be accurately prepared based on the summarized data in the ledger. The other statements are not accurate in the context of posting to the general ledger.