Mastering Accounts Ledger Posting

Analyzing financial statements

Preparing a balance sheet

Preparing a trial balance

Recording transactions in a journal (correct)

To analyze financial statements

To prepare a trial balance

To maintain a record of individual accounts (correct)

To record transactions in a journal

It is only necessary for large businesses (correct)

It does not require recording transactions in a journal

It is the final step in the accounting process

It is only used for recording expenses