Which of the following is a subsidiary book as well as a ledger?

Assessment: JAMB UTME - Principles of Accounts - 2024 Subject: Financial Accounting

Question 1 Report

Which of the following is a subsidiary book as well as a ledger?
Answer Details
A cash book serves as both a subsidiary book and a ledger. It is a subsidiary book because it records all cash and bank transactions of a business in a chronological order. It includes details of cash receipts and cash payments, as well as bank deposits and withdrawals. The cash book acts as a primary record for cash and bank transaction before they are posted to the general ledger.

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