Write the following in the correct order:

- Source document
- Transaction
- Subsidiary journal
- General ledger
- Trial balance
- Income statement
- Balance sheet



Answer :

Final answer:

The answer explains the correct order and definitions of financial terms like Balance Sheet and Income Statement.


Explanation:

Balance Sheet: Presents assets, liabilities, and net assets at a specific point in time.

Income Statement: Shows revenues, expenses, and changes in net assets over a period.

General Ledger: Records all financial transactions of a business.

Source Document: The original record of a transaction.

Subsidiary Journal: A specialized journal for recording specific types of transactions.

Transaction: An exchange of goods, services, or money.

Trial Balance: Lists the ending balance of all general ledger accounts.


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