The journal is used to correct errors because . . .?
Select ONE answer:
- it is faster to record the corrections in the Journal than in the ledger.
- once entered in the Journal. there is no need to record the corrections in the ledger.
- a narrative can be included in the Journal to explain the nature of the transaction and therefore explain the entries in the double-entry records.
- it is easier to correct errors using the Journal than to correct them in the control accounts.
Show your workings to arrive at your answer, and explain and justify your reasons:
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This multiple-choice question is suitable for Accounting KS5 classes.
The answer is 3
- Not correct – All corrections, just like all transactions, ultimately have to be recorded in the ledger anyway.
- Not correct – All corrections, just like all transactions, ultimately have to be recorded in the ledger anyway.
- Correct
- Not correct – Errors are not corrected in control accounts.
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