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The brief description written below a journal entry is called:
AFolio
BNarration
CVoucher
DPosting
Answer & Solution
Correct answer: B. Narration
A brief explanation of the transaction is the narration.
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Posting means grouping all transactions of a particular account:The first step in posting is to locate in the ledger the:The title of a ledger account ends with the suffix:The journal folio column in a ledger account records the:Which accounts appear in the balance sheet?Which accounts are permanent accounts?Recording in the journal is called journalising, while recording in the ledger is:The basis of classification of data in the ledger is the: