The purpose of the ________ is to record all the financial transactions of a firm.
A)General Ledger
B)T-account
C)Payroll register
D)General Journal

Question

Quizplus · Accepted Answer

The General Journal is the book of original entry where all financial transactions of a firm are recorded in chronological order. It serves as the basis for posting entries to the company's accounts in the General Ledger. A T-account is a format used for representing accounts in the General Ledger, but it is not the primary record of transactions. The Payroll register is a subsidiary record used to keep track of payroll-related transactions, but it does not capture all financial transactions of the firm.

The Purpose of the ________ Is to Record All the Financial