Asked by Waseem Nazir on May 03, 2024
Verified
Which of the following is not considered a special journal?
A) purchases journal
B) cash receipts journal
C) general journal
D) cash payments journal
Special Journal
A type of accounting journal dedicated to recording specific types of transactions, such as sales or purchases, to increase efficiency.
Purchases Journal
A specialized accounting journal used to record all purchases of goods and services on credit.
Cash Receipts Journal
A specialized accounting journal used to record all receipts of cash.
- Recognize the aims and classifications of accounting journals.
Verified Answer
JP
Jorgie PolyzosMay 06, 2024
Final Answer :
C
Explanation :
The general journal is not considered a special journal because it is used for transactions that cannot be recorded in the other specialized journals. It is used for recording adjusting entries, unusual transactions, and correcting errors. The other journals listed (purchases, cash receipts, and cash payments) are all special journals used for specific types of transactions.
Learning Objectives
- Recognize the aims and classifications of accounting journals.