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Recap of Accounting Process

Fill in the b...

Question

Fill in the blanks with appropriate words in the following sentences.
The book in which the daily business transactions are recorded is called ________.

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Solution

Answer :-Day Book
A day book is a book of original entry in which an accountant records transactions by date, as they occur.
This information is later transferred into a ledger, from which the information is summarized into a set of financial statements.

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