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1. What is the relationship between …

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1. What is the relationship between journal and ledger? 2 . Why it is said where book keeping ends accounting begins?

    • Posted by Bhawika (Yogi ;Yogita; Yogu) Bora 4 years, 9 months ago

    CBSE > Class 11 > Accountancy
    • 4 answers

    Bhawika (Yogi ;Yogita; Yogu) Bora 4 years, 9 months ago

    Thnx for ur answers Helped alot Sia &yogita??

    1Thank You

    Bhawika (Yogi ;Yogita; Yogu) Bora 4 years, 9 months ago

    Ok But we have to write one or two lines answer in the above question so plzz anwer in 1or2lines Plzz

    1Thank You

    Sia ? 4 years, 9 months ago

    The Journal is a book where all the financial transactions are recorded for the first time. When the transactions are entered in the journal, then they are posted into individual accounts known as Ledger. The Journal is a subsidiary book, whereas Ledger is a principal book.
    Bookkeeping is responsible for the recording of financial transactions. Accounting is responsible for interpreting, classifying, analyzing, reporting and summarizing financial data.

    1Thank You

    Yogita Ingle 4 years, 9 months ago

    Journal

    Ledger

    It is the original book

    It is the book of final entry

    It is the book for chronological order entry

    It is the book for analytical record entry

    It is the book of source entry which has greater legal evidence

    It has lesser legal evidence

    Transaction is the basis of classification of data within the journal

    Account is the basis of classification of data within the ledger

    1Thank You

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