The Order of the Entries Made in the General Journal

question 47

Multiple Choice

The order of the entries made in the general journal is by

• A)date
• B)account number
• C)user
• D)customer number

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Definitions:

Useful Life

The estimated period over which a fixed asset is expected to be usable by the company, affecting its depreciation calculation.

Value-Based Pricing

A pricing strategy where prices are set primarily on the perceived value to the customer, rather than on the actual cost of production or historical prices.

Preventive Maintenance

Routine maintenance and inspections of equipment and facilities to prevent unexpected breakdowns and to ensure efficient operation.

Useful Life

The estimated duration of time over which an asset is expected to be usable by an organization, influencing depreciation calculations.