A journal is useful for
A) disclosing in one place the complete effect of a transaction.
B) locating and preventing errors.
C) providing a record of transactions.
D) all of the above.

Question

Quizplus · Accepted Answer

A journal serves multiple purposes in accounting: it discloses the complete effect of a transaction in one place, helps in locating and preventing errors by providing a chronological record, and acts as a comprehensive record of all transactions made by a business.

A Journal Is Useful for