A chronological record of financial transactions expressed as debits and credits to accounts is provided by the
A) ledger.
B) journal.
C) balance sheet.
D) trial balance.

Question

Quizplus · Accepted Answer

A journal is a chronological record of financial transactions expressed as debits and credits to accounts. A ledger is a book or computer program that contains the accounts where transactions are categorized and summarized. A balance sheet is a financial statement that reports a company's assets, liabilities, and equity at a specific point in time. A trial balance is a list of all the accounts in the ledger with their respective debit or credit balances to ensure that the total debits equal the total credits.

A Chronological Record of Financial Transactions Expressed as Debits and Credits