Which of the Following Is True of the General Journal

question 124

Multiple Choice

Which of the following is true of the general journal?

• A)All transactions recorded in one of the special journals are also recorded in the general journal.
• B)Manual accounting information systems do not need the general journal.
• C)The adjusting entries and the closing entries are recorded in the general journal.
• D)Non-routine transactions are generally not recorded in the general journal.

Recognizing various forms of internet fraud and how they can be addressed.

Knowing the benefits of blogging and effective content creation for business.

Understanding the importance of mobile and responsive web design in e-commerce.

Grasping the metrics for evaluating online ad success and website performance.

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Definitions:

Adjusting Entries

Journal entries made in accounting to update the records for accruals, deferrals, and estimates.

Salaries And Wages Payable

Liabilities on a company's balance sheet representing the amounts owed to employees for work performed but not yet paid.

Depreciation Expense

Breaking down the investment in a solid asset over the time it serves its purpose.

Service Revenue

Income earned by a company for the provision of services to its customers.