Which of the Following Is True of a Sales Journal

question 72

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.

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Definitions:

Error

A discrepancy between a computed or measured value and the true value.

Linear Regression

A statistical method used to model the relationship between a dependent variable and one or more independent variables by fitting a linear equation.

F-Test Statistic

A type of statistical test used to compare the variances of two populations or to test the significance of regression coefficients in a linear regression model.

Sum Of Squares

A statistical technique used to measure the variation or deviation of a set of values from the mean of those values.