Which of the Following Statements Is NOT Correct

question 27

Multiple Choice

Which of the following statements is NOT correct?

• A)A firm should be able to trace amounts through the accounting records and back to their source documents.
• B)The description of a journal entry should include a reference to the source of the information contained in the entry.
• C)The credit portion of a general journal entry is always recorded first.
• D)If goods are purchased on credit, the supplier's invoice number is used as the source document for the transaction.

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Definitions:

Lawful Picketing

Lawful picketing refers to legally protected protest activity by workers outside of a workplace to publicize a dispute, typically regarding labor issues, without breaching peace or law.

Picket Line

A boundary established by workers on strike, especially at the entrance to the place of work, to demonstrate and discourage others from entering the premises.

Termination

The act of ending something, such as a contract, employment, or legal relationship, usually in accordance with predetermined conditions or by mutual agreement.

Notice

Formal communication or announcement made to inform individuals of certain actions or events.