ICAEW AF · Chapter 3 · Question 10 of 11
For which of the following would the journal normally be used as the book of prime entry?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Recording year-end depreciation and the correction of errors
Explanation
The journal records non-routine transactions that do not belong in any other book of prime entry, such as year-end adjustments, depreciation, correction of errors and opening entries. Routine transactions go through the cash book, the sales day book and the purchases day book respectively.
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