The main purpose of transaction file is?
FINANCIAL
JAMB 2023
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
Correct Answer: D. to update master files
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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