A General Journal Is

question 163

Multiple Choice

A general journal is:

• A)A ledger in which amounts are posted from a balance column account.
• B)Not required if T-accounts are used.
• C)A complete record of each transaction in the place from which transaction amounts are posted to the ledger accounts.
• D)Not necessary in electronic accounting systems.
• E)A book of final entry because financial statements are prepared from it.

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Definitions:

Social Responsibility

The obligation of companies to act in ways that benefit society at large, beyond their own interests or profitability.

Strategic Planning

The process of defining a business's direction and making decisions on allocating its resources to pursue this strategy, including its capital and people.

Performance Intention

The determination or resolve of an individual or organization to achieve specific performance outcomes or goals.

Entrepreneurial Behavior

Actions and attitudes characteristic of entrepreneurs, such as innovation, risk-taking, and proactiveness, in pursuing new business ventures.