Which of the Following Is TRUE of a Sales Journal

question 23

Multiple Choice

Which of the following is TRUE of a sales journal prepared under the perpetual inventory system?

• A) It includes a Cost of Goods Sold DR, Merchandise Inventory CR column.
• B) It records both cash and credit sales transactions.
• C) All transactions recorded in a sales journal also are entered in the general journal.
• D) It cannot be used with a perpetual inventory system.

Analyze the impact of factor prices on production costs and supply decisions.

Under the concept of competition and how market structures influence firm behavior.

Explore the economic behavior of firms in different market situations including competitive, monopolistic, and oligopolistic markets.

Understand the various forms and characteristics of mental disorders.

---

Definitions:

Actual Contracts

Legally binding agreements created by the actions, behavior, or circumstances of the parties involved, rather than by written or spoken words.

Arbitration Agreement

A contract in which parties agree to resolve disputes through arbitration instead of through the court system.

Customer Data

Information collected by businesses about their customers, which may include contact information, buying preferences, and history.

Security Breach

An incident that results in unauthorized access or exposure of private information, potentially leading to identity theft or data loss.