Which of the following accounting records is in chronological order?
A)The chart of accounts.
B)The general journal.
C)The general ledger.
D)The income statement.

Question

Quizplus · Accepted Answer

The general journal is the primary accounting record kept in chronological order, with transactions recorded in the order in which they occurred. The chart of accounts is a listing of all accounts used by the company, but is not necessarily in chronological order. The general ledger is a summary of all transactions by account, but it is organized by account type rather than by date. The income statement is a financial statement that shows the company's revenues and expenses over a period of time, such as a month, quarter, or year, but it is not a chronological record of transactions.

Which of the Following Accounting Records Is in Chronological Order