The format and number of specialized journals that a business uses depends upon the legal organization of the business.

Question

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The format and number of specialized journals used by a business depend upon the nature and size of the business, the industry it operates in, and the accounting system it follows. The legal organization of a business, such as whether it is a sole proprietorship, partnership, or corporation, does not have a direct impact on the journals used.

The Format and Number of Specialized Journals That a Business