The Columns Included in Special Journals Are Standardized for All

question 150

True/False

The columns included in special journals are standardized for all businesses.

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Definitions:

Supporting Documents

Supporting documents are the paper or digital records that provide evidence for transactions recorded in accounting books.

Voucher System

An internal control system designed to control a company’s cash payments.

Stock Certificate

Formal document issued to investors in a corporation that shows the number of shares purchased.

Voucher System

A method of accounting in which each transaction is recorded through the use of a document, or voucher, ensuring expenditures are authorized and recorded accurately.