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An accounting record into which the essential facts and figures in connection with all transactions are initially recorded is called what?
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Asked 4/8/2012 1:32:06 PM
Updated 10/31/2015 12:18:14 PM
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Flagged by emdjay23 [10/31/2015 12:18:14 PM]
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User: An accounting record into which the essential facts and figures in connection with all transactions are initially recorded is called what?

Weegy: trial balance.
dynamickitten|Points 130|

Question
Asked 4/8/2012 1:32:06 PM
Updated 10/31/2015 12:18:14 PM
1 Answer/Comment
This conversation has been flagged as incorrect.
Flagged by emdjay23 [10/31/2015 12:18:14 PM]
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An accounting record into which the essential facts and figures in connection with all transactions are initially recorded is called general journal.
Added 10/31/2015 12:18:13 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [10/31/2015 12:19:28 PM]
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Accrual accounting is used because
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Updated 12/6/2014 10:09:26 AM
1 Answer/Comment
Accrual accounting is used because it matches revenues and expenses to the period in which the transactions occur.
Added 12/6/2014 10:09:22 AM
This answer has been confirmed as correct and helpful.
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