All business transactions must be entered first in the general ledger.

Name: All business transactions must be entered first in the general ledger.
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Question

Quizplus · Accepted Answer

While the general ledger is an important component of the accounting system, not all business transactions need to be entered into it first. Some transactions may be recorded in subsidiary ledgers or journals before being transferred to the general ledger.

All Business Transactions Must Be Entered First in the General