Which of the following statements regarding special journals is not true?
A. The balances in a special journal must always reconcile to the general ledger.
B. Special journals are used to record large numbers of repetitive transactions.
C. Special journals are periodically summarized and posted to the general ledger.
D. Special journals provide a specialized format for recording similar transactions.
Answer:A
Which of the following statements regarding special journals is not true?
A. The balances in a special journal must always reconcile to the general ledger. B. Special journals are used to record large numbers of repetitive transactions. C. Special journals are periodically summarized and posted to the general ledger. D. Special journals provide a specialized format for recording similar transactions.