True/False Questions 1. The types of special journals a business uses should depend on the types of transactions it has most frequently. 2. If a business uses special journals, it generally will not...

1. The types of special journals a business uses should depend on the types of transactions it has most frequently.

2. If a business uses special journals, it generally will not need a general journal.

3. All sales, for cash or on credit, are recorded in the sales journal.

4. A cash receipts journal is used to record all cash receipts transactions.

5. Purchases returns and allowances are recorded in the general journal.