Web5 jan. 2024 · Journal is the book of original entry in which, after following the rules of debit and credit, all business transactions are recorded in a chronological order. The word journal has been derived from the French word “jour”, which means “a day”. Thus, journal means a book which records all monetary transactions of a business on daily basis. Webfinal entry D soucre entry Solution The correct option is B secondary entry A ledger is also known as book of secondary entry. All the journal entries recorded are posted to respective ledger accounts. Suggest Corrections 1 Similar questions Q. Ledger is known as the book of original entry. Q. A ledger is also known as book of ___ . Q.
MCQs on Ledger - BYJU
Web10 mrt. 2012 · What is the book of final entry? ledger What is book of original entry? "Journal" is called as book of original entry because at the occurance of any business transaction, entry... WebLedger is the King of all Books and that is why it is also known as the book of final entry wherein account-wise balance of each account is ascertained. It helps in the preparation of trial balance and financial statement, i.e. profit & … cheese factory in hazleton pa
What is Ledger? definition, format, posting and subdivision
WebA ledger in accounting refers to a book that contains accounts that consisting of records of transactions taking place in the business. It is also known as the book of final entry or … Web10 mrt. 2012 · What is the book of final entry? ledger What is book of original entry? "Journal" is called as book of original entry because at the occurance of any business … Web10 sep. 2024 · The Ledger is also called the king of all books of accounts because all entries from the books of original entry are posted to the various accounts in the ledger. ... Journal is book of primary entry: 1. Ledger is book of final entry: 2. As soon as a transaction originates it is recorded into the journal. 2. Transactions come into ... flea markets panama city beach