When Using a Purchases Journal

question 141

Multiple Choice

When using a purchases journal,

• A) all cash and credit purchases are recorded in the journal
• B) posting to creditor accounts is only done at the end of the month
• C) the "Other Accounts" total is posted to Accounts Payable at month's end
• D) there will always be an "Accounts Payable Cr." column

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Definitions:

Variance from Plan

Variance from Plan refers to the difference between what was planned or expected in terms of project performance and what was actually achieved.

Fraction Transported

The proportion of goods that are transported from one point to another within a specified period.

Modalities

Refers to the various methods, forms, or procedures available for accomplishing a task or function, often used in contexts such as transportation, therapy, and communication.

Responsive Transportation

Transportation methods that are flexible and adaptable to quickly respond to changing supply chain needs.