Question

When preparing journal entries, the account titles are selected using either the dropdown menu (if available) or by keying in the account titles.
A. True
B. False

Answer 1

Answer:

False

Explanation:

The preparation of journal entries is very important in transaction recording process, it is utilized in recording transactions either to the general ledger or via subsidiary ledger into the accounting system.

When  preparing journal entries two fields are very important, the account title also called account name and the account number or account code. To prevent accounting or recording error, the account codes are selected using the drop-down menu which displays the account title or account name. This enables the account clerk to verify before posting.