Every Entry in the Journal Should Include All of the Following

question 5

Multiple Choice

Every entry in the journal should include all of the following EXCEPT

• A) the title of each account affected.
• B) the amounts.
• C) a brief description.
• D) the balance of the accounts affected.

---

Definitions:

Depreciation Charges

The allocation of the cost of a tangible asset over its useful life to reflect its decrease in value over time.

GASB Statement No. 68

A standard issued by the Governmental Accounting Standards Board that establishes accounting and reporting requirements for pensions by state and local governments.