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Question
Assertion (A): The journal is the initial recording of financial transactions.
Reasoning (R): The ledger is a principal book of accounts in accounting.
Options
A is true but R is false.
A is false but R is true.
Both A and R are true and R explains A.
Both A and R are true but R does not explain A.
MCQ
Assertion and Reasoning
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Solution
Both A and R are true but R does not explain A.
Explanation:
- Assertion (A) states that the journal is the initial recording of financial transactions. This is true because the journal is the book of original entry where transactions are first recorded in chronological order.
- Reasoning (R) states that the ledger is a principal book of accounts in accounting. This is also true since the ledger contains classified and summarized records of all accounts, but it is not the initial recording place.
- However, the fact that the ledger is a principal book does not explain why the journal is the initial recording book. They describe different aspects of the accounting process.
Thus, both statements are true but R does not explain A.
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