What Is the Reason for NOT Using the Journal Entry

question 3

Multiple Choice

What is the reason for NOT using the Journal Entry or Bank Deposit pages for recording sales?

• A)The sales account shows income from the Accounts Payable account.
• B)Bank deposits only reflect income from Accounts Receivable.
• C)Best practice is to record sales as a Transfer entry.
• D)A bank deposit or journal entry will not appear on sales reports.
• E)None.

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Definitions:

Production Functions

Mathematical equations that describe the relationship between input and output quantities in the production process.

Labor

The investment of human strength and thought in the process of producing goods and services.

Output

The volume of goods or services produced by a human, mechanical, or industrial source.

Nash Equilibrium

A concept in game theory where no participant can gain by unilaterally changing their strategy, assuming other participants' strategies remain unchanged.