Which of the following is not a special journal:
A. Cash payments journal.
B. Cash receipts journal.
C. General journal.
D. Sales journal.
E. Purchases journal.
Answer: C
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A) variability B) heterogeneity C) perishability D) intangibility E) homogeneity
General principles are the basic assumptions, concepts, and guidelines for preparing financial statements. GAAP aims to make information relevant and representationally faithful.
Answer the following statement true (T) or false (F)
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a. debit to Income Summary b. credit to Cash c. debit to the dividends account d. debit to the retained earnings account
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a. powers also delegated to the federal government by the Constitution. b. the powers the Constitution does not prohibit to the states. c. police power. d. employee safety matters.