A Checkmark in the PR Column in the General Journal

question 93

Multiple Choice

A checkmark in the PR column in the general journal means:

• A)the entry was recorded correctly.
• B)the amount was posted to the controlling account.
• C)the amount was recorded in the subsidiary ledger.
• D)the customer paid in the discount period.

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Definitions:

Narrow Product Line

A business strategy focusing on a limited selection of products or services to specialize and cater to a specific segment of the market.

Low-cost Strategy

A business approach aimed at gaining competitive advantage by offering products or services at lower prices than competitors.

Self-contained Units

Independent or autonomous components that function or operate separately within a larger system or structure.

Product Design

The process of conceiving and developing the features and functionality of products.