If a Transaction Cannot Be Recorded in a Special Journal

question 141

Multiple Choice

If a transaction cannot be recorded in a special journal

• A) the company must refuse to enter into the transaction.
• B) it is recorded in the general journal.
• C) it is recorded directly in the accounts in the general ledger.
• D) it is recorded as an adjustment on the work sheet.

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Definitions:

Production Possibility Frontier

A graphical illustration showing the maximum attainable combinations of two products that can be produced with available resources and technology, highlighting the trade-offs and opportunity costs.

Consumer Tastes

Consumer Tastes denote the preferences and desires that influence the buying behavior of consumers, often affected by cultural, social, and personal factors.

Capital Goods

Long-lasting goods that are used in the production of other goods or services, such as machinery, equipment, and buildings.

Production Possibility Frontier

A graphical representation depicting the maximum output possibilities for two goods, given a set of inputs, highlighting the trade-offs in production choices.