A journal that is used to record and post transactions of a similar type is a(n):
A) Special journal.
B) General journal.
C) Perpetual journal.
D) Columnar journal.
E) All-purpose journal.

Question

Quizplus · Accepted Answer

A special journal is used to record and post transactions of a similar type, such as sales, purchases, or cash receipts. A general journal, on the other hand, is used for transactions that do not fit into a special journal. A perpetual journal and columnar journal are not actual terms in accounting. An all-purpose journal does not exist as well, as it would defeat the purpose of having specialized journals.

A Journal That Is Used to Record and Post Transactions