After the data has been posted from the journals to the ledgers owner's equity, revenue and expense accounts are

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First, restating the question: After the data has been posted from the journals to the ledgers owner's equity, revenue and expense accounts are categorized as what? The answer options are: a) deleted, b) removed, c) footed, d) balanced.

Option a: 'deleted' would imply removing the accounts or their data from the records, which is not how posting from journals to ledgers is described in standard accounting practice. Deletion would lose historical information and is not a normal step in the cycle after posting.

Option b: 'removed' likewise suggests taking the data out of the ledgers or off the books, which contradicts the purpose of posting records to the ledgers where information is preserved for financial reporting. Removal is not a term used for the process described.

Option c: 'footed' refers to totaling the entries in a column of the ledger, i.e., summing debits and credits to verify the totals. In the context of posting to ledgers, it is standard to foot (sum) the revenue and expense accounts to determine their balances before preparing financial statements. This step ensures accuracy of the ledger balances.

Option d: 'balanced' means ensuring that debits equal credits for each account. While balancing is part of the broader accounting process, the specific action described in the scenario—after posting from journals to ledgers—is the act of footings to determine balances. Balancing is more of an overarching goal rather than the exact named step in this phrasing.

In summary, the practice described corresponds to foot ing the revenue and expense accounts to derive their ending balances after posting, rather than deleting, removing, or simply balancing in a general sense. Therefore, option c aligns with the standard terminology for this step in the posting process.

MUF0021 Accounting Unit 1 - Semester 1, 2025 Quiz: The General Ledger

After the data has been posted from the journals to the ledgers owner's equity, revenue and expense accounts are

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