Which of the following statement is true?
A: In a given journal entry there may be ten debits and only one credit.
B: When an expense account is debited some asset account must be credited.
C: The journal and the ledger contain the same information.
D: The ledger gives more details about a transaction than the journal does.
A: In a given journal entry there may be ten debits and only one credit.
B: When an expense account is debited some asset account must be credited.
C: The journal and the ledger contain the same information.
D: The ledger gives more details about a transaction than the journal does.
举一反三
- For each journal entry, the account to be debited is indented.
- What is the specific order of the recording process? A: Journal, trial balance, financial statements, ledger, transaction documentation B: Transaction documentation, journal, ledger, trial balance, financial statements C: Transaction documentation, ledger, journal, trial balance, financial statements D: Trial balance, financial statements, ledger, journal, transaction documentation E: Ledger, journal, transaction documentation, trial balance, financial statements
- The essential point of the double-entry system of accounting is that every transaction A: affects accounts on both sides of the balance sheet. B: is recorded in both the journal and the ledger. C: increase one ledger account and decrease another. D: affects two or more ledger accounts and is recorded by an equal amount of debits and credits.
- The process of transferring journal entry information from the journal to the ledger iscalled____________ . It leaves a helpful ____________ in checking for accuracy.
- The process of posting journal into ledger account is called( ) A: Analysing B: Journalizing C: Posting D: The trial balance