Which of the following is false about a journal?
A) It discloses in one place the complete effects of a transaction.
B) It provides a chronological record of transactions.
C) It helps to prevent or locate errors because debit and credit amounts for each entry can be readily compared.
D) It keeps in one place all the information about changes in specific account balances.
Correct Answer:
Verified
Q24: For the basic accounting equation to stay
Q25: Mt.Zion Inc.pays its employees twice a month,
Q26: Evidence that would not help with determining
Q27: The ledger should be arranged in
A)alphabetical order.
B)chronological
Q28: Posting
A)should be performed in account number order.
B)accumulates
Q30: For each of the following accounts indicate
Q31: Revenues are a subdivision of retained earnings.
Q32: Posting is the process of proving the
Q33: A T-account is
A)a way of depicting the
Q34: Which of the following statements is true?
A)Debits
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