What type of file provides a permanent record of the transactions recorded during an accounting period?
A) Transaction file
B) Master
C) Open file
D) Archive file

Question

Quizplus · Accepted Answer

An archive file provides a permanent record of the transactions recorded during an accounting period. This file is typically stored separately from the active accounting files and serves as a backup for future reference or auditing purposes. Transaction files are temporary records that are updated with each new transaction and are not meant to provide a complete historical record. Master files and open files are also active accounting files that do not provide a permanent record of transactions.

What Type of File Provides a Permanent Record of the Transactions