Which of the following is NOT true regarding the general journal?
A) It discloses the complete effect of a transaction.
B) It provides a chronological record of transactions.
C) It helps to prevent and locate errors.
D) Transactions are posted to the general journal.
Correct Answer:
Verified
Q77: A credit to an asset account indicates
Q78: The double-entry system requires that each transaction
Q79: A T account consists of
A)a title, a
Q80: The left side of a T account
Q81: For the basic accounting equation to stay
Q83: Evidence that would not help with determining
Q84: The first step in the recording process
Q85: Assets normally show
A)credit balances.
B)debit balances.
C)debit and credit
Q86: The usual sequence of steps in the
Q87: A journal provides
A)the balances for each account.
B)information
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents