Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 19 - No. 26)
What is the purpose of a general journal?
To record only cash transactions.
To serve as the primary book of original entry.
To summarize financial statements.
To only record transactions involving inventory.
Explanation
The general journal is the primary book of original entry, where all transactions are initially recorded in chronological order.
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