4) Journals are sometimes called books of original entry because transactions are recorded in journals before amounts are entered into the ledger.

true false

5) Posting is the process of determining the balance in an account by subtracting debits and credits.

true false

6) A trial balance can be in balance, even if there are errors in the accounting system.

true false

7) In a market, a company that manufactures cars would be referred to as a conversion agent.

true false