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In the reading this week, you learned that business transactions are first recor
In the reading this week, you learned that business transactions are first recorded in the general journal and then posted to the general ledger account, which allows management to always have a running balance for each account. Address each of the following questions from the perspective of your current employer, previous employer, or a company where you hope to work in the future.
What are some advantages of accurate record-keeping for your specific company?
Would you be concerned if an account had an abnormal balance? How might you investigate it?
For reference to Q1: I work in the facilities department for a large oil and gas company.
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