Which of these is not a special purpose journal?
Correct answer: C. Debtors journal
- A. Cash journal
- B. Purchase journal
- C. Debtors journal
- D. Sales journal
Explanation
Purchase, sales, and cash journals are standard special-purpose books for recording recurring classes of transactions. A general debtors journal is not normally included among the standard special journals, so it is the exception.
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About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
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