When updating the general ledger sales purchases and production are examples of

When updating the general ledger sales purchases and

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7) When updating the general ledger, sales, purchases, and production are examples of ________entries, and issuance or retirement of debt and the purchase or sale of investment securities are examples of ________ entries. A) adjusting; controller originated B) accounting subsystem; treasurer originated C) adjusting; special journal D) controller generated; special journal Answer: BObjective: Learning Objective 1Difficulty: ModerateAACSB: Analytic
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8) Which of the following are used to document entries made to update the general ledger?9) Not all journal entries affect cash flow. Adjusting entries that reflect events that have already occurred, but have no effect on cash, are classified as 10) Recording interest earned on an investment is an example of which type of adjusting journal entry? 11) Identify the adjusting entry that is made at the end of an accounting period to reflect an exchange of cash prior to the performance of a related event is classified as a(n)A) accrual entry. B) deferral entry. C) revaluation entry. D) correcting entry. Answer: BObjective: Learning Objective 1Difficulty: EasyAACSB: Analytic
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12) Depreciation expense and bad debt expense are examples of which type of adjusting journal entry? 13) Adjusting entries that are made to reflect differences between the actual and recorded value of an asset or a change in accounting principle are called 14) Adjusting entries that are made to counteract the effects of errors found in the general ledger are called 15) Corrections are entries made to correct errors found inA) all journals.B) special journals.C) the general ledger.D) the financial statements.Answer: CObjective: Learning Objective 1Difficulty: EasyAACSB: Analytic
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