What is true about posting to the general ledger?

Question

It is completed before analyzing the transactions.

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

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

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

Answer 1

The correct statement about posting to the general ledger is:

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

This statement accurately describes the posting process, where transactions recorded in the journal are transferred to the appropriate accounts in the general ledger.

The other statements are not true:

• Posting is completed after analyzing the transactions, not before.
• Double-checking is a good practice in accounting, but it is not a necessary part of posting itself.
• Posting is not limited to the CFO; it can be performed by various accounting personnel, depending on the organization's structure.