Which of the Following Items of Information Would Not Normally

question 93

Multiple Choice

Which of the following items of information would not normally be included in a journal entry?

• A) the date the transaction took place
• B) the dollar amount of the debit
• C) the title of the account debited
• D) the location where the transaction took place

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Definitions:

Timeliness

Refers to the provision of financial information to users promptly, ensuring relevance for decision-making purposes.

Consistency

In accounting, the principle that mandates the use of the same accounting methods and practices over time for financial reporting.

Qualitative Characteristics

Aspects that contribute to the usefulness of financial information, including its relevance and reliability.