A General Journal Is

question 206

Multiple Choice

A general journal is:

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

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Definitions:

Pioneering

The act of being the first to develop or use new methods, areas of knowledge, or activities, often leading to innovation in a field.

Competitive

Relating to or characterized by competition; striving to gain or win something by defeating or establishing superiority over others.

Reminder

A reminder is a tool or message used to prompt or encourage individuals to remember and take action on a specific task, event, or behavior.

Product Advertisements

Advertisements that focus on selling a product or service and which take three forms: (1) pioneering (or informational), (2) competitive (or persuasive), and (3) reminder.