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Answer Posted / komathi
# 2 A book in which the monetary transactions of a business
are
posted in the form of debits and credits entry is called
ledger (Book in which all accounts of the business are
kept. In effect, the ledger is a classification and
summarization of financial transactions and the basis for
the preparation of the balance sheet and income statement.
The ledger also allows one to see the balance in a given
account at a particular time)
Book or place where business transactions are first
recorded in chronological order before being posted to the
general ledger accounts is called journal
A written record of expenditure, disbursement, or completed
transaction for proof
(Form used in an internal control system to contain and
verify all information about a bill to be processed or
paid. Usually the original bill is then attached to the
voucher. The voucher and bill are filed together until time
of payment.)
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Purchase book is a ----------journal
