The Chronological Record of Each Complete Transaction That Has Occurred

question 123

Multiple Choice

The chronological record of each complete transaction that has occurred is called the:

• A)Account balance.
• B)Ledger.
• C)Journal.
• D)Trial balance.
• E)Cash account.

---

Definitions:

CPA Canada Handbook

The comprehensive accounting and auditing standards guide adopted by the Chartered Professional Accountants of Canada, including the application of IFRS and other Canadian-specific regulations.

Convergence

The process of global alignment of accounting standards, aiming to make financial statements more comparable across different jurisdictions.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) for financial reporting globally.

Disclosure Requirements

Regulatory mandates that obligate companies to reveal certain financial and operation-related information to ensure transparency and protect investors.