Which of the following statements concerning general ledger accounts is true? The general ledger accounts are the only source of accounting information that managers of job order cost operations need to plan and control production activities.The general ledger accounts sometimes have many errors so managers of job order cost operations need to look to other information to plan and control production activities.The general ledger accounts do not provide the accounting information that managers of job order cost operations need to plan and control production activities.The general ledger accounts do not provide the accounting information that managers of job order cost operations need because of deficiencies in internal controls.

Question
Asked Sep 2, 2019
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Which of the following statements concerning general ledger accounts is true?
 

  • The general ledger accounts are the only source of accounting information that managers of job order cost operations need to plan and control production activities.
  • The general ledger accounts sometimes have many errors so managers of job order cost operations need to look to other information to plan and control production activities.
  • The general ledger accounts do not provide the accounting information that managers of job order cost operations need to plan and control production activities.
  • The general ledger accounts do not provide the accounting information that managers of job order cost operations need because of deficiencies in internal controls.
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Expert Answer

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Explanation:

 

General ledger is used in the financial accounting to record the financial transactions. It is not used in cost accounting to provide the accounting information to the managers of job order...

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