When a Sales Journal Is Posted to the General Ledger

question 19

Multiple Choice

When a sales journal is posted to the general ledger at the end of the month, the accountant totals the Accounts Receivable DR, Sales Revenue CR and Cost of Goods Sold DR, Merchandise Inventory CR columns. This process is commonly called:

• A)scalping.
• B)ticking.
• C)footing.
• D)framing.

Acknowledge the breadth of psychology fields as reflected in subdivisions within the APA.

Understand the role of industrial/organizational psychology in workplace dynamics.

Comprehend the role of social psychology in studying interpersonal relationships and group dynamics.

Distinguish experimental psychology's focus on fundamental psychological processes.

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Definitions:

Trade Practices Act

Legislation designed to regulate business conduct to ensure fair competition and protect consumers in certain jurisdictions.

Protection

Measures taken to guard against theft, harm, or damage.

Federal Competition Act

Legislation aimed at promoting and maintaining fair competition practices in the marketplace by regulating anti-competitive practices in a federal jurisdiction.

Contributions

Donations or payments made towards a particular cause, project, or to fulfill a requirement in a group effort.