Which of the following is not a feature of special journals?
A)They are efficient tools in helping journalize and post transactions.
B)They allow posting of amounts as column totals rather than as individual amounts.
C)Good system design could collapse sales and cash receipts into one journal to better suit a business.
D)They eliminate the need for a general journal.
E)They produce an efficient division of labor.

Question

Quizplus · Accepted Answer

This statement is not correct. Special journals do not eliminate the need for a general journal. While most transactions can be recorded in special journals, there are still some transactions that need to be recorded in the general journal, such as adjusting entries, closing entries, and certain special transactions.

Which of the Following Is Not a Feature of Special