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GCE Financial Accounting 1989 Question 25

Question 25

Double Entry and the Ledger

Which of the following in a classified form contains a permanent record of all transactions? The

  1. A.Sales Day Book
  2. B.Cash Book
  3. C.Ledger
  4. D.Journal
  5. E.Purchases Day Book
Show the answer and explanation

Answer: C (Ledger)

Explanation

All transactions end up classified into accounts in the ledger, the main book of record.