Asked by Andrews Osei antwi on May 07, 2024
Verified
Transactions are listed in the journal chronologically.
Journal
A financial record where all transactions are initially recorded in chronological order before being posted to individual accounts.
Chronologically
In order of time, from the earliest to the latest.
- Become knowledgeable about the utility and notation of journalizing and posting as part of the accounting system.
Verified Answer
TB
Taarai BakiaeMay 10, 2024
Final Answer :
True
Explanation :
Transactions are indeed recorded in the journal in chronological order, which means they are listed in the order in which they occurred. This helps in maintaining the accuracy of the financial records and making it easier to trace transactions over a period of time.
Learning Objectives
- Become knowledgeable about the utility and notation of journalizing and posting as part of the accounting system.