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:

Worker Cooperatives

A business model where employees own the company, participate in its decision-making, and benefit from its profits.

Japanese Labor Law

A set of laws in Japan that governs labor relations, employee rights, working conditions, and union activities, promoting harmonious labor-management relations.

German System

Refers to Germany's model of industrial relations, characterized by a high level of worker participation in management decisions through mechanisms like works councils and co-determination.

Interunion Competition

Competition between different labor unions to represent workers in a particular sector or company.