Act 105 quiz 2 - Question 1 of 10 10.0 10.0 Points Account numbers are entered in the posting reference column of the two-column general journal at the

Act 105 quiz 2 - Question 1 of 10 10.0 10.0 Points Account...

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Question 1 of 1010.0/ 10.0 PointsAccount numbers are entered in the posting reference column of the two-column general journalat the time the transactions are recorded in the ledger accounts. A. TrueB. FalseAnswer Key: True Question 2 of 1010.0/ 10.0 PointsExpense accounts usually have debit balances and show the cost associated with producing revenue during an accounting period. Question 3 of 1010.0/ 10.0 PointsA trial balance proves that no errors were made in recording transactions, posting, and in preparing the trial balance. Question 4 of 1010.0/ 10.0 PointsThe primary function of the general ledger is to store transactions by account classification and to provide a balance of each account.
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  • Spring '19
  • SMITH
  • Revenue, Expense, Double-entry bookkeeping system, office equipment, Doug Equipment

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