Examlex
Which of the following statements is true?
Error
A mistake in recording financial data, which can be due to miscalculation, oversight, or misunderstanding of accounting principles.
Ledger
A book or other collection of financial accounts of a particular type or for a specific purpose in accounting.
Journal
A formal record where all financial transactions of a business are initially recorded, date-wise, before being posted to the general ledger.
Trial Balance
A statement that lists all the balances of the general ledger accounts of a business at a particular time to check the correctness of double-entry bookkeeping.
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