Select the Correct Statement from the Following

question 68

Multiple Choice

Select the correct statement from the following:

• A)General ledger employees should not have custody of any assets that they record in the general ledger.
• B)General ledger employees should never be given responsibility for authorizing any journal vouchers.
• C)General ledger employees should only record journal vouchers that have been authorized by the appropriate manager.
• D)All of the above are correct.

Comprehend the roles and challenges of global managers.

Understand the processes and criteria for selecting international partnerships and joint ventures.

Identify the benefits and criticisms of multinational corporations to home and host countries.

Recognize the role of culture and religion in shaping international business practices.

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Definitions:

General Journal

A primary accounting record used to track all financial transactions of a business, entered in chronological order.

Office Supplies

Consumable items used in an office setting, such as paper, pens, and office equipment.

Unearned Revenue

Prepayment from customers for goods or services which have not yet been delivered or performed, representing a liability until the obligation is fulfilled.

General Journal

The general journal is an accounting ledger in which all types of transactions are initially recorded, formatted by date, before being transferred to specific accounts in the general ledger.