When a transaction occurs in a business, the accountant must decide if it is a regular and recurring transaction.If the transaction IS regular and recurring, it will be recorded in a ____1_____.If it is NOT regular and recurring, it will be recorded in a _____2_____.
A)1=General journal; 2=Special journal
B)1=General ledger: 2=Special ledger
C)1=Special journal; 2=General Journal
D)1=Special journal; 2=Subsidiary Ledger

Question

Quizplus · Accepted Answer

Regular and recurring transactions are typically recorded in special journals, such as the sales journal or cash receipts journal, while non-regular transactions are recorded in the general journal. The general ledger and special ledger options are not relevant to this question. The subsidiary ledger option is also not correct, as subsidiary ledgers are used to track specific accounts in more detail, rather than recording transactions based on their regularity or recurrence.

When a Transaction Occurs in a Business, the Accountant Must