Which of the following is true of the uses of the journal proper? i. correction of errors. ii. opening and closing the accounting books iii. recording cash ...

Answer Details

The journal proper is a book of prime entry used for recording infrequent or non-routine transactions that cannot be recorded in any other specialized journal. Out of the options provided, "i" and "iii" are true of the uses of the journal proper. The correction of errors is one of the primary uses of the journal proper. When errors are made in the original accounting records, the journal proper is used to make the necessary adjustments to correct these errors. Recording cash purchases is also a use of the journal proper. When a business makes a cash purchase, and there is no specialized journal for recording such a transaction, the journal proper is used. However, opening and closing the accounting books are not uses of the journal proper. The opening and closing entries are made in the general journal, which is a separate book of prime entry used for recording adjusting and closing entries. Therefore, the correct answer is "i and iii".