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In Journal, the business transaction is recorded

A. Same day

B. Next day

C. Once in a week

D. Once in a month

Answer: Option A

Solution(By Examveda Team)

In Journal, the business transaction is recorded Same day. A journal, which is also known as a book of original entry, is the first place that a transaction is written in accounting records.

This Question Belongs to Commerce >> Accounting

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Comments ( 2 )

  1. MOSES MBORIKAN
    MOSES MBORIKAN :
    2 years ago

    Which of the following facts regarding the statement of financial position would not be true?
    A. It is unnecessary to make any estimates or judgments when preparing a statement of financial position.
    B. The statement of financial position reveals how a business is funded.
    C. Intangible assets are often missing from the statement of financial position.
    D. The statement of financial position separately identifies long-term and short-term assets and liabilities.

  2. MOSES MBORIKAN
    MOSES MBORIKAN :
    2 years ago

    Which of the following facts regarding the statement of financial position would not be true?
    A. It is unnecessary to make any estimates or judgments when preparing a statement of financial position.
    B. The statement of financial position reveals how a business is funded.
    C. Intangible assets are often missing from the statement of financial position.
    D. The statement of financial position separately identifies long-term and short-term assets and liabilities.

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