A chronological record (or history)of an entity's transactions is called a:
A)T-account.
B)ledger.
C)journal.
D)financial statements.

Question

Quizplus · Accepted Answer

A journal is a chronological account of an entity's transactions or events. It records transactions in the order in which they occur and provides a complete record of all financial activities. T-accounts are a means of visually representing individual accounts or categories in the ledger. The ledger is a set of accounts that records the financial transactions of a business, organized into a chart of accounts. Financial statements are reports that summarize an entity's financial performance and position over a specific period.

A Chronological Record (Or History)of an Entity's Transactions Is Called