Which of the Following Statements Regarding Special Journals Is Not

question 69

Multiple Choice

Which of the following statements regarding special journals is not true?

• A)The balances in a special journal must always reconcile to the general ledger.
• B)Special journals are used to record large numbers of repetitive transactions.
• C)Special journals are periodically summarized and posted to the general ledger.
• D)Special journals provide a specialized format for recording similar transactions.

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Definitions:

Dependency

A relationship in which one entity relies on another for support or sustenance.

Taste-For-Discrimination Model

An economic theory that explains how personal bias and preferences can lead to differences in wages and employment opportunities for various groups.

Prejudice

Preconceived opinions or judgments towards people or groups without sufficient knowledge, reason, or direct experience, often leading to discrimination.

Demand Theory

An economic principle that describes how the demand for goods or services changes in response to price changes, assuming all other factors remain constant.