Which of the following statements are false? 1. A Sales Journal can be customized for each company. 2. Special journals aid the division of labour. 3. The subsidiary ledger makes the general ledger less manageable. 4. The subsidiary ledger is separate from the general ledger. 5. The controlling account is located in the accounts receivable subsidiary ledger. 6. The total(s) of a sales journal is (are) posted to the general ledger at the end of the month. 7. The accounts receivable subsidiary ledger is arranged in alphabetical order. 8. Transactions recorded into a sales journal are recorded weekly to the accounts receivable subsidiary ledger.

Which of the following statements are false? 1. A Sales Journal can be customized for each company. 2. Special journals aid the division of labour. 3. The subsidiary ledger makes the general ledger less manageable. 4. The subsidiary ledger is separate from the general ledger. 5. The controlling account is located in the accounts receivable subsidiary ledger. 6. The total(s) of a sales journal is (are) posted to the general ledger at the end of the month. 7. The accounts receivable subsidiary ledger is arranged in alphabetical order. 8. Transactions recorded into a sales journal are recorded weekly to the accounts receivable subsidiary ledger.

Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter4: The Revenue Cycle

Section: Chapter Questions

Problem 8MCQ

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