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In Journal, the business transaction is recorded
Answer & Solution
Correct Answer:
Option
A
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.
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LoginA. 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.
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.