Which of the Following Is TRUE of Posting from a Sales

question 44

Multiple Choice

Which of the following is TRUE of posting from a sales journal to the general ledger?

• A) Entries in the sales journal are posted to either the accounts receivable subsidiary ledger or the general ledger.
• B) Individual accounts receivable are posted daily from the sales journal to the accounts receivable subsidiary ledger.
• C) Even though the sales journal is posted monthly to the subsidiary ledger, it is a reliable record of the amount received from each customer.
• D) Under a perpetual inventory system, the sales journal will not have the Cost of Goods Sold DR and Merchandise Inventory CR column.

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Definitions:

Reciprocity Norm

A social rule that suggests people should return the favors or benefits that they have received from others.

Social Prescriptions

Expectations and norms dictated by society regarding how individuals should behave.

Social Contagion

The spread of ideas, attitudes, or behaviors through a group or society, mirroring the infectious process of a disease.

Norm

A standard or rule that is expected to be followed by members of a society, guiding behaviors and establishing expectations.