A Specialized Journal

question 78

Multiple Choice

A specialized journal

• A)is used to record infrequent or non-routine transactions.
• B)simplifies the process of recording large numbers of repetitive transactions.
• C)records all detailed data for any general ledger account that has individual sub-accounts.
• D)contains summary-level data for every account of the organization.

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Definitions:

Injury

Physical harm or damage to a person's body caused by an accident or external force.

Personal Property

Movable items owned by an individual or corporation, as opposed to real estate or real property.

Restrictive Covenant

A provision in a deed or lease restricting the actions the property's owner may take with the property.

Run with the Land

Legal terms or conditions that are attached to a piece of land and bind both current and future owners.