Asked by Santos Varela on Jul 21, 2024
Verified
The entire group of accounts for a company is referred to as the
A) general ledger
B) worksheet
C) journal
D) document of original entry
Original Entry
The initial recording of a financial transaction in the accounting records or journal.
General Ledger
The primary accounting record of a company or organization in which all transactions are recorded, including assets, liabilities, equity, revenue, and expenses.
- Acknowledge the protocol and essentiality of recording transactions from journals to ledgers and establishing trial balances.
Verified Answer
EL
Erick LopezJul 28, 2024
Final Answer :
A
Explanation :
The general ledger contains all of the accounts for a company, including their balances and activity. The worksheet is a tool used during the accounting process for adjusting and closing entries. The journal is a record of all financial transactions in chronological order. The document of original entry is the source document used to record a transaction, such as an invoice or receipt.
Learning Objectives
- Acknowledge the protocol and essentiality of recording transactions from journals to ledgers and establishing trial balances.
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