Which of the Following Statements Is Not Correct

question 61

Multiple Choice

Which of the following statements is not correct?

• A) The description of a journal entry should include a reference to the source of the information contained in the entry.
• B) If goods are purchased on credit, the supplier's invoice number is used as the source document for the transaction.
• C) The credit portion of a general journal entry is always recorded first.
• D) A firm should be able to trace amounts through the accounting records and back to their source documents.

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Definitions:

Justified Individuals

Persons whose actions or beliefs are deemed ethical, legal, or right based on moral or legal grounds.

Moral Decisions

Choices made by individuals reflecting their judgments about what is right or wrong, often involving complex considerations of ethical principles and values.

General Deterrence

The use of punishment to discourage people in general from committing crimes, based on the fear of penal consequences.

Using People

The unethical practice of exploiting individuals for personal gain or advantage.