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GCE Financial Accounting 1990 Question 24

Question 24

Books of Original Entry

Which of the following is true of the uses of the, Journal Proper? I. Correction of errors II. Opening and closing the accounting books III. Recording cash purchases

  1. A.I only.
  2. B.II only.
  3. C.III only.
  4. D.I and II only.
  5. E.I and III only.
Show the answer and explanation

Answer: D (I and II only.)

Explanation

The journal proper records corrections, opening and closing entries; cash purchases go through the cash book.