Question on: SS1 Accounting - Advantages of A General Journal
What is the main difference between a specialized journal and the general journal?Â
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A
A specialized journal is used for all transactions, while the general journal is only used for specific transactionsÂ
B
A specialized journal is used for specific types of transactions, while the general journal is used for transactions that do not fit in a specialized journal
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C
A specialized journal provides a complete record of all transactions, while the general journal only provides a summary of account balancesÂ
D
A specialized journal is quicker to use than the general journal
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Correct Option: B
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