Examlex
Which of the following is included in GALT?
Transaction Recording Process
The methodical process of recording financial transactions in the books of accounts to ensure accurate financial reporting.
Journal
A chronological record of all transactions made by a company, used as the primary source of information for the financial statements.
Ledger
A comprehensive collection of a company's accounts where transactions are recorded, typically categorized into assets, liabilities, equity, revenues, and expenses.
Compound Journal Entry
A journal entry that includes multiple debits, credits, or both, affecting more than two accounts.
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