A File or Book Which Contains a Record for All

question 54

Multiple Choice

A file or book which contains a record for all accounts used by a company, including the account balance, is called a

• A) chart of accounts
• B) general journal
• C) general ledger
• D) trial balance

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Definitions:

Permanent

Refers to accounts or records in accounting that are not closed at the end of the accounting period and are carried over into the next period.

Temporary

Pertains to something not permanent or lasting only for a limited period of time.

General Journal

A primary accounting record used to record all types of transactions not assigned to any specialized journal.

Permanent

In the context of accounting, refers to accounts that are not closed at the end of the accounting period, such as asset, liability, and equity accounts.