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9. Accounts of a single type are kept in this ledger. supplemental ledger. additional ledger. subsidiary ledger. None of these answers are correct. Which of
9. Accounts of a single type are kept in this ledger.
- supplemental ledger.
- additional ledger.
- subsidiary ledger.
- None of these answers are correct.
- Which of these statements about "T" accounts is FALSE?
- They are used mainly in classroom demonstrations.
- They have both a left side and a right side.
- They are used extensively in computer accounting.
- Each account has a normal balance which is either a debit or a credit.
- During the month of October, Ford advertised on the Internet. Ford received the bill for $600 in October, but waited until November to pay the advertising expense. The journal entry to record the payment in November is
- Accounts Payable debit; Cash credit.
- Advertising Expense debit; Accounts Payable credit.
- Advertising Expense debit; Cash credit.
- A journal entry is not made in November.
- Bookkeeping is primarily
- preparing financial reports.
- analyzing the company's financial position.
- record-keeping.
- preparing tax reports
- The left side of any account is the
- debit side.
- credit side.
- ending balance.
- footings.
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