The general ledger is kept to supply management with desired information in summary form. TRUE FALSE.

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The general ledger is kept to supply management with desired information in summary form. TRUE.

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Asked 9/29/2015 6:16:50 PM

Updated 9/30/2015 3:15:49 AM

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Edited by jeifunk [9/30/2015 3:15:49 AM]

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jeifunk

The general ledger is kept to supply management with desired information in summary form. TRUE.

Added 9/30/2015 3:15:36 AM

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Source documents begin the process of entering transactions in the accounting system

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Updated 9/29/2015 6:38:26 PM

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jhennv

Source documents begin the process of entering transactions in the accounting system. TRUE

Added 9/29/2015 6:38:26 PM

This answer has been confirmed as correct and helpful.

Confirmed by Andrew. [9/29/2015 7:19:26 PM], Rated good by Andrew.

A fiscal year is always the same as the calendar year.

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Updated 9/29/2015 8:02:22 PM

1 Answer/Comment

alfred123

A fiscal year is always the same as the calendar year. FALSE.

Added 9/29/2015 8:02:22 PM

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Confirmed by yumdrea [9/29/2015 9:15:36 PM]

The simplest form of journal is one with four columns. three columns. two columns. one column.

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Updated 9/29/2015 6:30:59 PM

1 Answer/Comment

jhennv

The simplest form of journal is one with TWO COLUMNS.

Added 9/29/2015 6:30:59 PM

This answer has been confirmed as correct and helpful.

Confirmed by Andrew. [9/30/2015 3:44:28 AM], Rated good by Andrew.

The main advantage of a two-column account is that it maintains a running balance. true or false?

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Updated 9/30/2015 3:19:32 AM

1 Answer/Comment

jeifunk

The main advantage of a two-column account is that it maintains a running balance. FALSE.

Added 9/30/2015 3:19:30 AM

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The process of copying the debits and credits from the journal to the ledger accounts is known as journalizing. true or fasle?

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Updated 9/30/2015 3:26:45 AM

1 Answer/Comment

Andrew.

The process of copying the debits and credits from the journal to the ledger accounts is known as journalizing. FALSE.

Added 9/30/2015 3:26:45 AM

This answer has been confirmed as correct and helpful.

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