Discuss the common characteristics of special journals.
What will be an ideal response?
Special journals are used to record and post transactions of a similar type. The special journal accumulates debits and credits of similar transactions, and posts amounts as column totals instead of individual amounts. Special journals allow an efficient division of labor, which is also an effective internal control.
You might also like to view...
The idea that workers are for working and managers are for thinking is characteristic of which leadership style?
a. Theory X b. Theory Y c. authoritative d. democratic
Replevin actions are also possible on goods not identified in the contract
Indicate whether the statement is true or false
All administrative proceedings are presided by a select jury of laymen, who then question the functionality of the new, proposed law
Indicate whether the statement is true or false
Electromagnetic radiation can contribute to the "sick-building" syndrome concern
Indicate whether the statement is true or false.