Asked by Aashma Bista on Apr 30, 2024
Verified
Totaling the columns of a journal and proving the equality of the totals is called footing and cross-footing a journal.
Journal
An accounting record in which transactions are initially recorded in chronological order.
Footing
An accounting term referring to the final total that appears at the bottom of a column of numbers or the process of adding up figures in a column.
Cross-footing
A method used in accounting to check the arithmetic accuracy of accounts by comparing the sums of the totals in the opposite directions.
- Comprehend the essentiality of precise posting and reconciliation operations within manual and electronic accounting systems.
Verified Answer
CS
Christina SpellMay 01, 2024
Final Answer :
True
Explanation :
Footing and cross-footing a journal involves adding up the columns of a journal and then proving that the totals are equal.
Learning Objectives
- Comprehend the essentiality of precise posting and reconciliation operations within manual and electronic accounting systems.