Which of the Following Is True of Posting from a Sales

question 42

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:

Confederates

Individuals or entities aligned with or supportive of the Confederate States of America, a group of southern states that seceded from the United States leading to the American Civil War from 1861 to 1865.

Execution

Execution refers to the carrying out of a sentence of death on a person convicted of a capital crime, or it can also mean the act of performing a plan, order, or directive.

Ending Slavery

The process, legislative acts, and movements aimed at abolishing the practice of holding individuals in bondage or servitude against their will.

Northern Capitalists

Individuals from the northern United States, particularly during the 19th and early 20th centuries, who amassed wealth through industry and were instrumental in shaping the economy.