9. Which of these statements is not true? a. Transactions must be recorded in a journal....
9. Which of these statements is not true?
a. Transactions must be recorded in a journal.
b. All transactions could be recorded in the general journal.
c. Companies use a number of special journals to record most transactions.
d. Special journals are designed to improve record- keeping efficiency.
e. The form of the journals are the same from industry to industry.
Homework Answers
Option E
Journal entries are different from industry to industry but maintain same methods of accounting.
A. Every transaction must be recorded in journal entry in every organization if they are following double entry system.
B. All the transactions for the year in a concerns must be recorded in general journal.
C. In case of special transactions companies may use special journal entries for their Covenece.
D. Special journal entries are improves the efficiency of books of accounts of the company.
So that Option E is not true in the preparation of journal entries.
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