The primary purpose of recording journal entries is: a. To list all accounts in a general ledger
Question:
The primary purpose of recording journal entries is:
a. To list all accounts in a general ledger
b. To see the increases and decreases in a specific account
c. To determine the overall financial performance of the company by having detailed financial records and enable the production of financial reports
d. To identify the source of recorded transactions
Step by Step Answer:
c To determine the overall fi...View the full answer
Fundamental Accounting Principles Volume I
ISBN: 978-1260305821
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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