When Posting Entries from a Purchases Journal to the General

question 134

Multiple Choice

When posting entries from a purchases journal to the general ledger,________.

• A) posting references are not shown in the subsidiary ledger
• B) the Accounts Payable balance in the general ledger will be less than the sum of the individual vendor balances in the subsidiary ledger
• C) the amounts in the Other Accounts DR column are posted individually to the specific accounts
• D) entries are posted on a daily basis for all the accounts

---

Definitions:

Selling Price

The amount of money for which a product or service is sold to the buyer.

Markdown Percentage

The reduction percentage applied to an item's retail price to stimulate sales or clear out inventory.

Hand-painted Stemware

Glassware for drinks that has been decorated by hand with paint, often featuring intricate designs or patterns.

List Price

The manufacturer's suggested retail price or the price at which a product is commonly sold to the public.