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Which of the following statements is most true? a. Journal vouchers authorize all GL postings in a real-time GLS. b. Adjusting and reversing entries to the GL do not require journal vouchers because these entries are not transactions. c. Batch processing of journal vouchers is common for large organizations with multiple sources of transactions. d. Journal vouchers are used to capture summaries of multiple transactions but are not used to capture single transactions.

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Accounting Information Systems

10th Edition
Hall + 1 other
Publisher: Cengage Learning,
ISBN: 9781337619202

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Chapter
Section
BuyFindarrow_forward

Accounting Information Systems

10th Edition
Hall + 1 other
Publisher: Cengage Learning,
ISBN: 9781337619202
Chapter 8, Problem 2MCQ
Textbook Problem
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Which of the following statements is most true?

  1. a. Journal vouchers authorize all GL postings in a real-time GLS.
  2. b. Adjusting and reversing entries to the GL do not require journal vouchers because these entries are not transactions.
  3. c. Batch processing of journal vouchers is common for large organizations with multiple sources of transactions.
  4. d. Journal vouchers are used to capture summaries of multiple transactions but are not used to capture single transactions.

To determine

Identify among the given options which is most true.

Explanation of Solution

General Ledger:

The financial information required for the preparation of financial reports of organization is reconciled in the general ledger. The general ledger maintains the record of accounts required for financial statements.

c.

The reconciliation of accounts into the general ledger is essential for large organizations because there are multiple sources of transactions. Batch processing system provides this function of recording transactions in to journal vouchers. The general ledger records these journal vouchers. Therefore, this is correct option...

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Chapter 8 Solutions

Accounting Information Systems
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