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    Question

    Which of the following best describes a journal in

    accounting?
    A A summary of transactions that have been posted to the ledger Correct Answer Incorrect Answer
    B A financial statement used to report a company's financial performance Correct Answer Incorrect Answer
    C A document used to record transactions in chronological order Correct Answer Incorrect Answer
    D A report that shows the balances of all accounts at a particular point in time Correct Answer Incorrect Answer

    Solution

    A journal is a record of individual transactions that have occurred in chronological order. It includes details about the date, amount, accounts involved, and a brief description of the transaction.

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