Which of the Following Statements Is True About a Journal

question 52

Multiple Choice

Which of the following statements is true about a journal entry?

• A) The Post.Ref.column is filled in prior to posting.
• B) All credits are listed before any debits.
• C) The name of the month should be repeated for each entry.
• D) An explanation must follow each journal entry.

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Definitions:

Tastes

The perceived preferences or desires of consumers or individuals, often influencing their behavior and choices.

Exchange Rates

The value of one currency expressed in terms of another currency, used to determine how much of one currency you can exchange for another.

Trade Deficits

A situation in which a country's imports exceed its exports, resulting in a negative balance of trade.

Speculation

The act of investing in financial assets with the hope of profiting from future price changes, often involving significant risk.