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The types of special journals a business uses should depend on the types of transactions that occur most frequently for a business. (Points : 3) True or False
The types of special journals a business uses should depend on the types of transactions that occur most frequently for a business. [ This is a TRUE statement because Special journals are designed as a simple way to record the most frequently occurring transactions. There are four types of Special Journals that are frequently used by merchandising businesses: Sales journals, Cash receipts
journals, Purchases journals, and Cash payments journals. ]
Expert answered|nami008|Points 91|
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Asked 6/30/2013 4:28:34 PM
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A schedule of accounts payable is used to prove that the sum of the accounts payable ledger balances equals the Accounts Payable balance in the general ledger. (Points : 3) True or False
Weegy: The accounts receivable ledger is a subledger in which you record all credit sales made by a business. User: FOB destination means free on board at origin of the shipment. (Points : 3) True or False Weegy: false FOB is an acronym which pertains to the shipping of goods. FOB specifies which party (buyer or seller) pays for which shipment and loading costs, and/or where responsibility for the goods is transferred. [ The last distinction is important for determining liability or risk of loss for goods lost or damaged in transit from the seller to the buyer. Precise meaning and usage of "FOB" can vary significantly. International shipments typically use "FOB" as defined by the Incoterm standards, where it always stands for "Free On Board". Domestic shipments within the US or Canada often use a different meaning, specific to North America, which is inconsistent with the Incoterm standards. ] (More)
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Asked 6/30/2013 4:23:26 PM
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