A Journal Is Where the Initial Record of a Day's

question 91

True/False

A journal is where the initial record of a day's transactions is entered.

---

Definitions:

General Ledger

A comprehensive record of all financial transactions occurring within a company, organized by account, used to compile financial statements.

Control Accounts

General ledger accounts that summarize the details of a subsidiary ledger, facilitating the consolidation and reporting process.

Enterprise Resource Planning

A type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, and manufacturing.

Human Resource Management

A function in organizations designed to maximize employee performance in service of an employer's strategic objectives.