Which of the Following Is an Advantage of Using a Sales

question 33

Multiple Choice

Which of the following is an advantage of using a sales journal compared with recording all sales transactions in a general journal?

• A) Narrations are required for each entry
• B) Each sales transaction is recorded on multiple lines to provide full details
• C) Only the totals of each column are posted to the general ledger
• D) The date of each transaction is not required to be recorded

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Definitions:

Cost of Living

The total amount of money required to cover basic expenses such as housing, food, taxes, and healthcare in a certain place and time.

Utility Function

An equation representing a consumer's prioritization of various bundles of goods, thereby indicating their perceived benefit or welfare from those choices.

Consumption

The action of using up a resource or goods, often associated with the demand side of economics.

Income

Earnings received by an individual or business in exchange for work, services, or investments, typically measured over a certain period of time.