Which of the Following Journals Has End-Of-The-Month Postings

question 73

Multiple Choice

Which of the following journals has end-of-the-month postings?

• A) Cash payments journal
• B) Purchases journal
• C) Sales journal
• D) Cash receipts journal
• E) All special journals have end-of-the-month postings.

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Definitions:

Managerial Personnel

Employees who are responsible for making key decisions and overseeing the operations of a company, including executives and departmental managers.

Asset Revaluation Surplus

The increase in value of an asset, reflected on a company's financial statements, after it has been revalued to its current market value.

General Reserve

Funds set aside by a company from its profits for general unspecified future risks or obligations.

Amortisation of Goodwill

The gradual write-off of the purchased goodwill of a company over time, reflected as a non-cash expense in the income statement.