The book of original entry where transactions and other selected events are first recorded is called the
A) ledger.
B) journal.
C) account.
D) statement of financial position.

Question

Quizplus · Accepted Answer

The book of original entry where transactions and other selected events are first recorded is called the journal. The ledger is where those transactions are then transferred and summarized into specific accounts. The statement of financial position (also known as the balance sheet) is a financial statement that shows the company's assets, liabilities, and equity at a specific point in time.

The Book of Original Entry Where Transactions and Other Selected