The Use of Special Journals to Record Transactions

question 120

Multiple Choice

The use of special journals to record transactions

• A) eliminates the need for a general ledger.
• B) can save time in the posting process.
• C) eliminates the need for a general journal.
• D) should only be used if the volume of transactions is small.

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Definitions:

Most Probable

Referring to an event or outcome that has the highest likelihood of occurring compared to other possibilities.

Statistical Significance

A measure indicating that the likelihood of an observed effect or difference in a study is not due to chance alone.

Observed Differences

Variations or disparities noted upon examination or comparison of subjects or objects.

Standard Deviations

A statistic that measures the dispersion or variability within a set of numerical data, indicating how much individual data points differ from the mean.