The Ledgers Are an Example of an Accounting Book of Original

question 58

True/False

The ledgers are an example of an accounting book of original entry.

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Definitions:

Bookkeeping

A part of the accounting process that involves only the recording of economic events.

Accounting Process

The systematic series of steps taken to record financial transactions and prepare financial statements in accordance with accounting standards.

Working Knowledge

A practical understanding or awareness of a subject or skill, sufficient to perform tasks or make decisions related to it.

Accounting Relevance

The importance of financial information in making informed business decisions due to its material impact on evaluating past, present, or future events.