The main purpose of transaction file is?

Accounts - Principles of Accounts

JAMB 2023

A. to record assets and liabilities
B. to update income and expenses
C. to make organization decision
D. to update master files

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Correct Answer: Option D

Explanation

A transaction file is used to hold data during transaction processing. The file is later used to update the master file and audit daily, weekly or monthly transactions.

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The main purpose of transaction file is?

Correct Answer: Option D

Explanation

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