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Nesterboy [21]
3 years ago
5

The purpose of posting is to A. list the transactions in chronological order in the journal. B. provide an explanation of the tr

ansaction. C. update the account balances in the ledger. D. correct a previous entry.
Business
2 answers:
avanturin [10]3 years ago
7 0
The correct answer is
<span>C. update the account balances in the ledger.

Here, the word posting is used in its economic meaning which means what you wrote under C. It's not posting like when you post on facebook or similar. Updating the balance in the ledger is of extreme importance for avoiding problems with the law of avoiding things like bankruptcy.</span>
<span />
Irina-Kira [14]3 years ago
7 0
I think the answer is C. update the account balances in the ledger. 
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1 year ago
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3 years ago
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4 0
3 years ago
The Company uses lower-of-cost-or-market approach. The replacement cost of an inventory item is $75. Net realizable value is $82
egoroff_w [7]

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The inventory would be valued at $75 each

Explanation:

From  a market approach to valuation,we need to first of all compare the replacement cost and net realizable in order to pick the lower of both values,hence the replacement cost of $75 is lower than net realizable value of $82.50.

As a result, we can then compare the lower of replacement cost and initial cost,such that inventory can then be valued at the lower of both.

From the foregoing analysis,the replacement of $75 each per item is lower than the initial cost $76.50,invariably our inventory is valued at $75 each.

4 0
3 years ago
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