Which of the Following Is True of Posting from a Sales

question 99

Multiple Choice

Which of the following is true of posting from a sales journal to the general ledger?

• A)Entries in the sales journal are posted to either the accounts receivable subsidiary ledger or the general ledger.
• B)Individual accounts receivable are posted daily from the sales journal to the accounts receivable subsidiary ledger.
• C)Though the sales journal is posted monthly to the subsidiary ledger, it is a reliable record of the amount receivable from each customer.
• D)Under a perpetual inventory system, the sales journal will not have the Cost of Goods Sold DR and Merchandise Inventory CR column.

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Definitions:

Producing

The process of creating goods or services.

Profit

The financial gain obtained when revenue from selling a product or service exceeds the costs of producing it.

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A component of the Heating, Ventilation, and Air Conditioning (HVAC) technology aimed at controlling and reducing indoor temperatures through various cooling methods.

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Relating to or involving a drastic and significant change, especially in ideas, methods, or structure.