2021 · Q110
Which one of the following is the first book in which the transactions of a business unit are recorded ?
General Accounting Principles, Auditing and InsuranceRecording transactions
- ABalance Sheet
- BCash Book
- CLedger
- DJournal
Explanation
The first book in which the transactions of a business unit are recorded is called the “Journal” or “Book of Original Entry”. It is also sometimes referred to as the “Daybook” because it is used to record transactions on a daily basis.