Which of the Following Statements Is Not Correct

question 42

Multiple Choice

Which of the following statements is not correct?

• A) In accounting,the term "cash" includes checks,money orders,and funds on deposit in a bank as well as currency and coins.
• B) The cash register proof is used to enter the cash sales and sales tax in the cash receipts journal.
• C) The entry to record the receipt of a promissory note to replace an open account is recorded in the cash receipts journal.
• D) The cash receipts journal has separate columns for debits to Cash,credits to Accounts Receivable,and credits to Sales and Sales Tax Payable.

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Definitions:

Mediation

A method of resolving disputes outside of court where an impartial third person helps the conflicting parties find a mutually agreeable solution.

Arbitration

A form of alternative dispute resolution where a neutral third party makes a binding decision to resolve a dispute outside of court.

Judicial Process

The series of steps and procedures followed by courts to enforce laws, including trial, adjudication, and sentencing.

Superior Trial Court

A higher-level court that handles significant civil and criminal cases, often with the authority to review decisions from lower courts.