. A journal designed for entering only sales on account is called the A. General journal B. Cash receipts journal C. Cash payments journal D. Sales journal
. A journal designed for entering only sales on account is called the A. General journal B. Cash receipts journal C. Cash payments journal D. Sales journal
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 20MC: A multi-step income statement ________. A. separates cost of goods sold from operating expenses B....
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Multiple choice:
1. A journal designed for entering only sales on account is called the
A. General journal
B. Cash receipts journal
C. Cash payments journal
D. Sales journal
2. Under this concept, some costs are initially recognized as assets and recognized only as expenses when the related revenue is recognized.
A. Matching principle
B. Going concern
C. Historical cost concept
D. Separate entity concept
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