Which of the Following Data Elements Are Essential in a Journal

question 9

Multiple Choice

Which of the following data elements are essential in a journal?

• A) Transaction date, explanation, and dollar amount of each debit and credit
• B) Dollar amount of each debit and credit, account name and number, and explanation
• C) Transaction date, dollar amount of each debit and credit, and account name and number
• D) Account name and number, transaction date, and unique identifier for the transaction

---

Definitions:

Business Practices

The methods, tactics, and strategies that companies use to conduct business, interact with customers, and compete in the market.

Federal Trade Commission Act

is a U.S. law established in 1914 to promote consumer protection and prevent anticompetitive business practices.

Antitrust Law

Legislation aimed at preventing monopolies and promoting competition among businesses.

Conglomerate Merger

Merger between two companies in unrelated industries.