Question

Financial data from transaction documents are first recorded in a _____. The data are then categorized into categories in a ______, so managers can find all the information about a single account in one place.

a) Journal; ledger
b) Ledger; journal
c) Balance sheet; income statement
d) Income statement; balance sheet

Answer 1

Financial data from transaction documents are first recorded in a journal, and then categorized into categories in a ledger.

Step-by-step explanation:

The correct answer is a) Journal; ledger. Financial data from transaction documents are first recorded in a journal, and then categorized into categories in a ledger.