Which of the Following Is True of Posting from a Sales

question 42

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)Even though the sales journal is posted monthly to the subsidiary ledger,it is a reliable record of the amount received 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:

Rational Method

A logical approach to gaining knowledge, often involving critical thinking and deductive reasoning.

Projective Tests

Psychological assessments that use ambiguous stimuli to elicit responses that are thought to reveal a person's unconscious thoughts and feelings.

Validity

The extent to which a test or instrument measures what it claims to measure accurately.

Expensive

Something that requires a high cost or a large amount of resources to obtain.