Journals are also referred to as A. Book of entries B. Book of original entries C. T account D. Book of economic events

Book of entries
Book of original entries
T account
Book of economic events

The correct answer is: A. Book of entries.

A journal is a book of original entry, which means that it is the first place where financial transactions are recorded. Journal entries are recorded in chronological order, and they provide a detailed description of each transaction.

A T account is a simple way of representing a financial account. It consists of two columns, one for the debit balance and one for the credit balance. The total of the debits must equal the total of the credits.

A book of economic events is a more general term for any book that records financial transactions. This could include a journal, a ledger, or a trial balance.

In conclusion, a journal is also referred to as a book of entries because it is the first place where financial transactions are recorded.

Exit mobile version