A general journal is:
A)A ledger in which amounts are posted from a balance column account.
B)Not required if T-accounts are used.
C)A complete record of all transactions in chronological order from which transaction amounts are posted to the ledger accounts.
D)Not necessary in electronic accounting systems.
E)A book of final entry because financial statements are prepared from it.

Question

Quizplus · Accepted Answer

A general journal is a complete record of all transactions in chronological order from which transaction amounts are posted to the ledger accounts. It is necessary to maintain an accurate and complete record of transactions in order to prepare accurate financial statements.

A General Journal Is