The Special Journals of Many Accounting Systems Include All the Following

question 91

Multiple Choice

The special journals of many accounting systems include all the following except:

• A)Sales journal
• B)General ledger
• C)Purchases journal
• D)Cash receipts journal
• E)Cash disbursements journal

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Definitions:

Immediate Payment

A payment that is required to be made at the time of purchase or transaction.

Political Subdivisions

Entities established under the authority of a larger government, typically used for administrative purposes, such as counties or municipalities.

Debt Obligations

Liabilities or amounts of money that a company or individual owes to lenders or creditors.

Debt Financing

The method of funding a company's operations or expansion by borrowing money, usually through issuing bonds or taking out loans.