Asked by cristian sanchez on Jul 18, 2024
Verified
Transactions are listed in the journal chronologically.
Transactions
Financial events that affect the assets, liabilities, or equity of a company and can be measured in monetary terms.
Journal
A record where all financial transactions are entered initially, before being posted to individual accounts in the ledger, following the double-entry bookkeeping.
Chronologically
In the sequence of time, where events or records are arranged in the order of their occurrence.
- Discern the components and intentions behind journalizing and posting within the realm of accounting.
Verified Answer
SM
Shankhesh MuttaJul 21, 2024
Final Answer :
True
Explanation :
Transactions in a journal are listed chronologically, meaning they are recorded in order of the date they occurred.
Learning Objectives
- Discern the components and intentions behind journalizing and posting within the realm of accounting.