If You Add Departments to an Account -

question 12

Multiple Choice

If you add departments to an account -

• A) the department is added automatically to the journal when you choose the account
• B) the department is added automatically to the journal if it is the only department linked to the account
• C) you must choose the department for the account in a journal to add it to the transaction
• D) you can change the default department for an account in the journal

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Definitions:

Recording Invoices

The process of documenting sales or purchases in the accounting records, typically by entering them into a journal or ledger.

Discount Recognized

The process of recording in the financial accounts the discount received or given on transactions, affecting the actual value recorded.

Periodic Inventory System

An inventory accounting practice where physical counts are performed at specific intervals to determine the cost of goods sold and ending inventory levels.

Voucher System

A method for processing accounts payable where a document (voucher) is prepared for every payable transaction, detailing the goods or services received, amounts to be paid, authorization, and accounts to be charged.