Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 34 - No. 7)
In a typical accounting system, what happens after transactions are recorded in the books of prime entry?
A trial balance is prepared.
The financial statements are created.
The information is posted to the ledger accounts.
The cash book is closed.
Explanation
The next step after the books of prime entry is posting the information into the ledger accounts.
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