Question: The difference between General Ledger and the General Journal is that the journal: A)is the book of the final entry in a bookkeeping system in
The difference between General Ledger and the General Journal is that the journal:
A)is the book of the final entry in a bookkeeping system in which all transactions are summarized for each month and the final balances are used to prepare financial statements
B) includes monthly adjustments, accruals and reversals for previous accruals, corrections, non-cash expenses and any other entry that is not a receipt or a payment
C) includes the amount spent during the month and what is owed
D) Summarizes multiple incomes transactions
The difference between General Ledger and the General Journal is that the General Ledger:
A)is the book of the final entry in a bookkeeping system in which all transactions are summarized for each month and the final balances are used to prepare financial statements
B) includes monthly adjustments, accruals and reversals for previous accruals, corrections, non-cash expenses and any other entry that is not a receipt or a payment
C) includes the amount spent during the month and what is owed
D) Summarizes multiple incomes transactions
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