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A week ago
Identify the most correct statement with regard to how the various accounting subsystems update the general ledger.

• Individual journal entries for each accounting subsystem transaction update the general ledger every 24 hours.

• Summary journal entries that represent the results of all transactions for a certain time period are used to update the general ledger.

• The controller or treasurer must approve accounting subsystem journal entries before any updating may occur.

• Nonroutine transactions are entered into the system by the treasurer's office.
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Accounting Information Systems
Edition: 14th
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wrote...
A week ago
Summary journal entries that represent the results of all transactions for a certain time period are used to update the general ledger.
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