If a Transaction Cannot Be Recorded in a Special Journal

question 141

Multiple Choice

If a transaction cannot be recorded in a special journal

• A) the company must refuse to enter into the transaction.
• B) it is recorded in the general journal.
• C) it is recorded directly in the accounts in the general ledger.
• D) it is recorded as an adjustment on the work sheet.

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Definitions:

Express Ratification

The explicit, formal approval or confirmation of an act or contract by the person who is bound by the act or contract, typically done after the act has been completed.

Implied Ratification

The tacit approval or acceptance of an act by behaving in a manner that assumes the act was properly authorized.

License

A permit from an authority to own or use something, do a particular thing, or carry on a trade.

Certain Professions

Specific occupations that require specialized education, skills, or certifications, often regulated by professional bodies or laws.