Which of the following accounts is a liability?

Which of these statements about a journal is false?

A. It contains only revenue and expense accounts. B. It provides a chronological record of transactions. C. It helps to locate errors because the debit and credit amounts for each entry can be readily compared. D. It discloses the complete effect of a transaction in one place.

One task in effective paraphrasing is to

A) avoid using any business language or jargon. B) check your version against the original to make sure that you didn't alter the meaning. C) make sure your version is the same length as or longer than the original. D) write in the passive voice. E) omit quotation marks.