If There Is Cash Involved in a Business Transaction,the Transaction

question 115

Multiple Choice

If there is cash involved in a business transaction,the transaction should be recorded in either the ________.

• A) cash payments journal or cash receipts journal
• B) cash payments journal or general journal
• C) cash payments journal or cash receipts journal and in general journal
• D) sales journal or purchases journal

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Definitions:

Equilibrium

A state of balance between opposing forces or actions.

Steady State

A condition where all aspects of a system are in balance and unchanging over time, often used in physics, chemistry, and physiology.

Activation

The process of making something active or operative, such as initiating a chemical reaction or stimulating a cell to perform a function.

Neutrons

Subatomic particles found in the nucleus of an atom, with no electric charge and a mass slightly greater than that of protons.