Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 6 - No. 49)
What is the purpose of a general journal in accounting?
To summarize all the transactions.
To record the initial capital in the business.
To record all the accounting information to prepare the financial statements.
To list the assets.
Explanation
The purpose is to record all the accounting information to prepare the financial statements.
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