Which of the following is NOT a true statement? a. Transactions are recorded on ledgers and are posted to journals...

Which of the following is NOT a true statement?

a. Transactions are recorded on ledgers and are posted to journals.

b. Transactions are recorded in journals and are posted to ledgers.

c. Infrequent transactions are recorded in the general journal.

d. Frequent transactions are recorded in special journals.

Solutions

Expert Solution

The statement that is NOT true is:

a. Transactions are recorded on ledgers and are posted to journals.

Explanation:

In the typical accounting process, transactions are recorded first in journals and then posted to ledgers. Journals serve as the initial record where transactions are chronologically recorded, while ledgers contain summarized and categorized information from the journals. Therefore, option a is incorrect.

The statement that is NOT true is: (a).

Junaid answered 3 months ago

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