Multiple Choice
Which of the following statements is true regarding attributes of the general ledger and the general journal?
A) Both the general ledger and the general journal focus on general accounting concepts and not specific events or occurrences.
B) The general journal displays the balance in a particular account.
C) The general ledger and the general journal are separate and distinct accounting records that are not related or cross-referenced to each other.
D) The general ledger is account driven and the general journal is transaction driven.
E) General ledger accounts are only used in ERP systems.
Correct Answer:

Verified
Correct Answer:
Verified
Q114: Publishing for Personnel,Inc.,received and paid its utility
Q115: Stile Paving Company had the following
Q116: Which of the following accounts is classified
Q117: In a trial balance,the number of accounts
Q118: When expense accounts are closed,we credit each
Q120: Given the following transactions,what is the ending
Q121: If expired insurance is not recorded at
Q122: What is the final step in the
Q123: The following errors occurred in the accounting
Q124: Closing entries deal primarily with balance sheet