If a company uses special journals a. it must have one for cash, receivables, and payables b. it may have no more than four c. the quantity and design depend on the needs of the company d. the design must comply with the FASB requirements

If a company uses special journals a. it must have one for cash, receivables, and payables b. it may have no more than four c. the quantity and design depend on the needs of the company d. the design must comply with the FASB requirements

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 10Q: When a company collects cash from customers before performing the contracted service, what is the...

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Question

If a company uses special journals

a. it must have one for cash, receivables, and payables

b. it may have no more than four

c. the quantity and design depend on the needs of the company

d. the design must comply with the FASB requirements

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