asked 179k views
4 votes
How often is the general ledger updated in Waren Sports Supply's accounting information system?

asked
User Wbrugato
by
8.5k points

1 Answer

3 votes

Final answer:

The general ledger at Waren Sports Supply is updated periodically, ranging from daily to monthly, depending on transaction volume and company policy, with a computerized system enabling rapid postings.

Step-by-step explanation:

The general ledger in Waren Sports Supply's accounting information system is typically updated on a periodic basis. This can range from daily, to weekly, to monthly updates, depending on the volume of transactions and the company's accounting processes. In a computerized accounting system, entries made into various journal accounts are posted to the general ledger accounts almost immediately or according to a set schedule dictated by the company's accounting cycle. For precise frequency, it would be necessary to refer to the company's specific accounting practices and policies.

answered
User Lucks
by
8.3k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories