S1: The Ledger is the book of original entry. S2: The process of transferring entries from the Journal to the Ledger is called posting. Which statement(s) is/are correct? MCQ with Answer and Explanation
S1: The Ledger is the book of original entry. S2: The process of transferring entries from the Journal to the Ledger is called posting. Which statement(s) is/are correct?
A. S1 only
B. Neither S1 nor S2
C. Both S1 and S2
D. S2 only
Answer: Option D
Solution (By JKSSB Mock Tests)
The Journal is the book of original entry, not the Ledger. The Ledger is the principal book of accounts. S2 is correct as posting is the process of transferring journal entries to ledger accounts.
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