The Cash Account Is Never Part of an Adjusting Entry

question 92

True/False

The cash account is never part of an adjusting entry.

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Definitions:

General Ledger

The main accounting record of a company or organization, containing all the financial accounts and transactions.

Special Journal

A journal used in accounting to record transactions of a similar type.

General Journal

A primary accounting journal where all types of transactions are initially recorded before being posted to specific accounts in the ledger.

Subsidiary Ledger

A detailed ledger that provides a breakdown of individual transactions affecting a control account in the general ledger, such as accounts receivable or accounts payable.