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.

Recognize the role and functions of the Bureau of Labor Statistics in relation to CPI.

Categorize the various methods and indices used to measure inflation.

Analyze the factors affecting consumer spending patterns as indicated by the CPI.

Differentiate between the CPI and GDP deflator as measures of inflation.

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