Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 43 - No. 28)
What does the term 'prime entry' refer to in accounting?
The initial recording of a transaction in the accounting system.
The final entry made in the general ledger.
Entries made only by senior accounting staff.
Entries related to the most important financial transactions.
Explanation
Books of prime entry are the original books of entry where transactions are first recorded.
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