Multiple Choice
Which of the following is NOT true regarding the general journal?
A) It discloses the complete effect of a transaction.
B) It provides a chronological record of transactions.
C) It helps to prevent and locate errors.
D) Transactions are posted to the general journal.
Correct Answer:
Verified
Correct Answer:
Verified
Q51: Assets are decreased with a credit.
Q136: The right side of an account is<br>A)always
Q137: Assets normally show<br>A)credit balances.<br>B)debit balances.<br>C)debit and credit
Q138: When a service has been performed, but
Q139: A person who wants to determine the
Q140: The main purpose of the trial balance
Q142: Management could determine the amounts due from
Q143: If total liabilities increased by $22,500, then<br>A)assets
Q144: Revenue is only recorded when cash is
Q145: A debit increases an account and a