Which of the Following Items Would NOT Be Included in the Journal

question 67

Multiple Choice

Which of the following items would NOT be included in the journal entry for a transaction?

• A)the names of the employees involved in recording the transaction
• B)the date the transaction occurred
• C)the titles of the accounts debited
• D)the dollar amount of the transaction

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Definitions:

Variable Manufacturing Costs

Expenditures that shift in accordance with the volume of output, like raw materials and direct labor costs.

Selling Commission

A fee paid to salespersons or agents for selling a company's products or services, usually a percentage of the sale price.

Net Operating Income

An accounting term representing the profit derived from a company's everyday, non-financial activities and excluding extraordinary items.

CVP Analysis

Short for Cost-Volume-Profit Analysis, it's a management accounting technique used to analyze how changes in costs and volume affect a company’s operating income and net income.