Which of the Following Events Does Not Require a Journal

question 60

Multiple Choice

Which of the following events does not require a journal entry?

• A) Purchase of a one-year insurance policy
• B) Agreement to perform a service at a future date
• C) Performance of a service agreed to at a past date
• D) Payment for a service performed previously

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Definitions:

Ratio

A quantitative relationship between two numbers showing how many times one value contains or is contained within the other.

Express

To show, manifest, or reveal something through words, gestures, actions, or artistic expression.

Proportion

A portion, fraction, or quantity assessed in relation to its total entity.

Business

An organization or enterprising entity engaged in commercial, industrial, or professional activities.