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ACCOUNT

JAMB 2023 - Question 23

Account 2023 JAMB Past Questions - Question 23: The main purpose of transaction file is?

The main purpose of transaction file is?

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

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.