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Which of the Following Statements Is INCORRECT

question 39

Multiple Choice

Which of the following statements is INCORRECT?


Definitions:

Cash Register

A mechanical or electronic device used for registering and calculating transactions at a point of sale.

Cash Receipts

The collection of money, typically recorded during the period in which it is received.

Cash Sales

Transactions where payment is made in cash at the time of sale, as opposed to credit sales where payment is deferred.

Journalize

The process of recording financial transactions in a company's journal, outlining the details of each business transaction.

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