Which of the following records the impact of a transaction step on financial accounting?
A)Financial accounting document
B)Parallel accounting document
C)Sub-ledger
D)Subsidiary ledger
E)None of the above

Question

Quizplus · Accepted Answer

Financial accounting documents record the impact of transaction steps on financial accounting. Parallel accounting documents are used for different accounting standards, sub-ledgers and subsidiary ledgers record transactions for specific accounts.

Which of the Following Records the Impact of a Transaction