What file in a computerized accounting system corresponds to a paper general ledger in a paper-based system?
A) Transaction file
B) Master file
C) Open file
D) Program file

Question

Quizplus · Accepted Answer

The master file in a computerized accounting system corresponds to a paper general ledger in a paper-based system. The master file contains all the individual account balances and is equivalent to the pages of the general ledger where account balances are recorded. The transaction file contains all the detailed transactions that are used to update the master file, but it is not equivalent to the general ledger as it does not contain the balances of individual accounts. The open file and program file are not relevant to the comparison with a paper-based general ledger.

What File in a Computerized Accounting System Corresponds to a Paper