Which of the Following Statements Is Correct? in a Manual

question 59

Multiple Choice

Which of the following statements is correct? In a manual accounting system:

• A) cash purchases are recorded in the cash receipts journal.
• B) cash purchases are recorded in the purchases journal.
• C) cash purchases are recorded in the general journal.
• D) cash purchases are recorded in the cash payments journal.

---

Definitions:

Enforceable

Capable of being imposed or upheld by law or rule, ensuring compliance or obedience.

ITQs

ITQs, or Individual Transferable Quotas, are regulatory tools used in fisheries management, allowing for the control of total harvest quantities while allocating specific portions to individuals or entities.

Pacific Halibut

Pacific Halibut refers to a species of flatfish that is commonly found in the North Pacific Ocean, highly valued for commercial and recreational fishing.

Market Price

The present cost at which a good or service is available for purchase or sale on the free market.