What Type of Entries Does the Journal Report Show

question 2

Multiple Choice

What type of entries does the Journal report show?

• A)Check.
• B)Sales Receipt.
• C)Bill.
• D)Invoice.
• E)All of these.

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Definitions:

Physical Count

The act of manually counting inventory on hand to verify records and ensure accuracy in reporting assets.

Non-Inventory

Items or services a company sells or uses in its operations that are not held in inventory, such as supplies, subscriptions, or services.

QBO

Abbreviation for QuickBooks Online, a cloud-based accounting software designed for small and medium-sized businesses.

3-Way Match

A process in accounts payable to compare the purchase order, delivery receipt, and invoice before processing a payment, ensuring accuracy and preventing fraud.