A journal provides
A) the balances for each account.
B) information about a transaction in several different places.
C) a list of all accounts used in the business.
D) a chronological record of transactions.

Question

Quizplus · Accepted Answer

A journal is a chronological record of transactions, meaning it records the transactions in the order they occur. This allows for easy tracking of the business's financial activities over time. The other options listed, such as balances for each account or a list of all accounts used, are typically found in other financial documents such as the general ledger or chart of accounts. B is also incorrect as a well-kept journal will provide all necessary information about a transaction in one place, rather than scattered throughout multiple documents.

A Journal Provides