Q71
The standard format of Journal does not include which of the following?
A.
Assets column
AnswerB.
Date column
C.
Description column
D.
Amount column
Answer: Option A
Solution
Answer: Option A
Solution:
The standard format of Journal does not include Assets column. An asset purchased on account is not recorded in the purchase journal. But many are of opinion to record all credit transactions in multi-column purchase journal.