Managers Should Not Be Held Responsible for Noncontrollable Costs

question 112

True/False

Managers should not be held responsible for noncontrollable costs.

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Definitions:

Sales Journal

A dedicated bookkeeping ledger designed for noting every credit sales transaction a business conducts.

Purchases Journal

A ledger in accounting used specifically to record all purchase transactions of a company, especially those made on credit.

Cash Payments Journal

A business ledger documenting every cash disbursement, encompassing expenditures, acquisitions of assets, and repayment of liabilities.

Special Journal

A special journal is a financial journal in accounting that is used to record and categorize specific types of transactions such as sales, purchases, cash receipts, and cash disbursements.