Which of These Statements Is Not True

question 27

Multiple Choice

Which of these statements is not true?

• A)Transactions must be recorded in a journal.
• B)All transactions could be recorded in the general journal.
• C)Companies use a number of special journals to record most transactions.
• D)Special journals are designed to improve record- keeping efficiency.
• E)The form of the journals are the same from industry to industry.

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Definitions:

Tax Purposes

A phrase referring to the reasons or objectives related to the assessment or payment of taxes.

Rises

In the context of graphs, refers to the upward movement of a function or value as it moves along the horizontal axis.

Falls

The act or an instance of falling; movement downwards due to gravity.

Horizontal

Parallel to the horizon; moving or lying in a flat position.