The accounting system will not post a sales transaction to the sales journal withouta valid bill of lading number. This control is most relevant to which transactionrelated objective for sales?(1) Accuracy (3) Completeness(2) Occurrence (4) Posting and summarization

The accounting system will not post a sales transaction to the sales journal withouta valid bill of lading number. This control is most relevant to which transactionrelated objective for sales?(1) Accuracy (3) Completeness(2) Occurrence (4) Posting and summarization

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The accounting system will not post a sales transaction to the sales journal without
a valid bill of lading number. This control is most relevant to which transactionrelated objective for sales?
(1) Accuracy (3) Completeness
(2) Occurrence (4) Posting and summarization

Definition Definition Act of publishing journal entries in their respective general ledger accounts to create a consolidated view of an account. At the end of the fiscal year, ledger accounts are balanced and account balances in every ledger are consolidated together to create the trial balance.

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