Which one of the statements below is not a purpose for the journal? to show increases and decreases in accounts to show a chronological order by date to show a complete transaction in one to help locate errors a ANSWER: Moderate DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-02 - 02-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.01 - Purpose ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic A credit may signify a decrease in assets decrease in liabilities decrease in capital decrease in revenue a ANSWER: Moderate DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-02 - 02-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic A debit signifies a decrease in assets expenses drawing revenues d ANSWER: Moderate DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-02 - 02-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic
Which one of the statements below is not a purpose for the journal? to show increases and decreases in accounts to show a chronological order by date to show a complete transaction in one to help locate errors ANSWER: a DIFFICULTY: Moderate Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-02 - 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic A credit may signify a decrease in assets decrease in liabilities decrease in capital decrease in revenue ANSWER: a DIFFICULTY: Moderate Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-02 - 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic A debit signifies a decrease in assets expenses drawing revenues ANSWER: d DIFFICULTY: Moderate Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-02 - 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic