A Special Journal Is ________

question 4

Multiple Choice

A special journal is ________.

• A)an accounting journal designed to record a specific type of transaction
• B)an accounting journal that holds individual accounts that support a specific general ledger account
• C)a record of accounts that provides supporting details on individual balances,the total of which appears in a general ledger account
• D)a created list of the accounts used by a business entity to define each class of items for which cash is spent or received

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Definitions:

Nearest Cent

Rounding a monetary amount to the closest one-hundredth of a currency unit.

Future Value

The value of an investment or asset at a specific future date, considering factors like interest rates or earnings growth.

Nearest Cent

The process of adjusting a monetary amount to the closest one-hundredth of the currency unit, typically a dollar.

Four-Figure Accuracy

A measurement precision indicating that a value is accurate to the nearest thousand, often important in geographical locations or scientific measurements.