Asked by Shavon Bashir on Jul 18, 2024
Verified
Postings made to standard account forms show a new balance after each entry.
Standard Account Forms
Preset templates used for recording financial transactions and keeping track of financial information in accounting.
Entry
A record of a financial transaction in an accounting system.
- Gain an understanding of how transactions are journaled and posted to the ledger.
Verified Answer
MJ
Mausam JariwalaJul 20, 2024
Final Answer :
True
Explanation :
Standard account forms are designed to keep track of transactions and update the account balance with each entry.
Learning Objectives
- Gain an understanding of how transactions are journaled and posted to the ledger.