Which of the Following Statements Is Not Correct

question 52

Multiple Choice

Which of the following statements is not correct?

• A)The cash register proof is used to enter the cash sales and sales tax in the cash receipts journal.
• B)The entry to record the receipt of a promissory note to replace an open account is recorded in the cash receipts journal.
• C)In accounting, the term "cash" includes checks, money orders, and funds on deposit in a bank as well as currency and coins.
• D)The cash receipts journal has separate columns for debits to Cash, credits to Accounts Receivable, and credits to Sales and Sales Tax Payable.

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Definitions:

Parent Country

The nation where a multinational company is headquartered or originally established.

Host Country

The country in which a multinational company operates a facility or office outside of its home country.

Third Country

A nation other than the two primarily involved in a transaction or event, often used in the context of diplomatic relations or international business.

Criteria

Standards, rules, or tests by which something can be judged or decided.