When a Voucher Transaction Does Not Fit in the Special

question 113

Multiple Choice

When a voucher transaction does not fit in the special columns of the voucher register, it will be recorded in the:

• A) general journal.
• B) sundry column.
• C) purchases debit column.
• D) Both B and C

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Definitions:

Semiannual Interest Payments

Interest payments made twice a year on a loan or bond.

Equity Method

An accounting technique used to record investments in other companies, reflecting the investor's share of the investee's profits or losses.

Outstanding Stock

Shares of a company that have been issued and are currently held by investors.

Net Income

The net income a company earns following the subtraction of all costs, taxes, and expenses from its total revenue.