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Opening an account in a ledger involves writing the account title and the account number on the account form.
True
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True
True
True
False
False
True
Every posting requires the year, month, and day to be entered in the Date column of the ledger account for every transaction.
True
True
True
True
True
False
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True
The ledger account form used by Zip Delivery Service is a three-column account form.
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True
True
True
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False
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True
The title of the account to be credited is indented from the left edge of the Description column so it can be easily distinguished from the debit part of the transaction.
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False
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True
The purpose of posting is to show the changes that take place in the business's accounts as a result of financial transactions.
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True
The type of source document prepared depends upon the nature of the transaction.
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In order to help an owner/manager know the financial condition of a business, accounting records are kept and reported for a certain period of time called an accounting period.
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True
If an error is discovered immediately after journalizing, a single ruling should be placed through the incorrect data and the correct information should be written above it.
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False
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True
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