Which of the Following Statements Is Correct

question 65

Multiple Choice

Which of the following statements is correct?

• A) The sales journal is used for recording both cash sales and credit sales.
• B) Since the sales journal is used for a single purpose,there is no need to enter any descriptions.
• C) To provide an adequate audit trail,sales on credit should be recorded in both the sales journal and the general journal.
• D) The complete information for each sale of merchandise on credit can be recorded on one line of the general journal.

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Definitions:

Over-Estimating

In psychology, this refers to the cognitive bias where individuals predict that they are more likely to experience positive outcomes and less likely to endure negative ones compared to statistical evidence or past experiences.

Phenylketonuria

A genetic disorder that leads to the inability to metabolize the amino acid phenylalanine, requiring a strict diet to prevent intellectual disability and other health issues.

Egocentrism

The inability to differentiate between self and other, often leading to an individual perceiving, understanding, and interpreting the world primarily from their own perspective.

Narcolepsy

A chronic sleep disorder characterized by overwhelming daytime drowsiness and sudden attacks of sleep, often linked to abnormal REM sleep patterns.