Multiple Choice
Which of the following is true of a sales journal prepared under the perpetual inventory system?
A) It includes a Cost of Goods Sold DR, Merchandise Inventory CR column.
B) It records both cash and credit sales transactions.
C) All transactions recorded in a sales journal are also entered in the general journal.
D) It cannot be used with a perpetual inventory system.
Correct Answer:
Verified
Correct Answer:
Verified
Q37: Which of the following is true of
Q106: A subsidiary ledger is a record of
Q127: Which of the following is true of
Q128: Depreciation of fixed assets is recorded in
Q129: Which of the following is true of
Q130: An effective accounting information system with adequate
Q131: Which of the following is true of
Q134: A computerized system uses software to process
Q135: Which of the following is true of
Q135: In a networked system,the server stores the