The Reference Column in a Sales Journal Is Used to Indicate

question 54

True/False

The reference column in a sales journal is used to indicate the general ledger account number when the entry is posted.

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Definitions:

Producers

Individuals or businesses that create and supply goods or services in the economy.

Tax Rate

The amount of tax people are required to pay per unit of whatever is being taxed.

Excise Tax

A tax levied on specific goods, services, or transactions, such as tobacco, alcohol, and fuel, usually to discourage consumption or raise government revenue.

Supply Curve

A graphical representation of the supply schedule, showing the relationship between quantity supplied and price.