The other name of journal is____________?
Correct answer: C. Day book
- A. Ledger
- B. T account
- C. Day book
- D. Cash book
Explanation
The journal is also called the day book because transactions are recorded in it in chronological order as they occur. A cash book is a specialized book for cash and bank transactions.
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About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
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