A General Journal Is

question 81

Multiple Choice

A general journal is:

• A) A ledger in which amounts are posted from a balance column account.
• B) Not required if T-accounts are used.
• C) A complete record of any transaction and the place from which transaction amounts are posted to the ledger accounts.
• D) Not necessary in electronic accounting systems.
• E) A book of final entry because financial statements are prepared from it.

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Definitions:

Industrial Fiber

A category of manufactured fibers known for their strength, durability, and specialized uses in industries such as automotive, construction, and textiles.

Refined Sugar

Sugar that has undergone a process to remove impurities and is typically used as a sweetener in food products.

Constrained Resource

A limited resource within a production process that can restrict the output or efficiency of the manufacturing operations.

Constrained Machine

A resource in the manufacturing process that limits the total output because it has the lowest capacity of any of the resources.