Cash Receipts Journal Is a Special Journal Used to Record

question 117

True/False

Cash receipts journal is a special journal used to record business transactions of all cash receipts and credit sales.

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Definitions:

Treasury Stock

Shares of a company's own stock that it has reacquired from shareholders, but not retired, and are therefore not considered when calculating earnings per share or dividends.

Common Stock

A type of equity security that represents ownership in a corporation and entitles shareholders to vote on corporate matters and receive dividends.

Net Increase

The amount by which a company's financial or operational metric grows within a specific period.