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Financial Accounting for Management, 5th Edition by Ambrish Gupta

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6

Specific Day Books

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Increase in the volume of business often necessitates the maintaining of specific day books for specific voluminous transactions of the same type, more particularly in the case of corporate entities. It is necessary to understand their respective roles.

CHAPTER OBJECTIVES

This chapter seeks to enable you to develop knowledge and understanding of:

  1. What necessitates the maintenance of specific day books?
  2. What are the various types of specific day books?
  3. How to record the transactions therein?
  4. How to post the transactions there from in to the ledger?
  5. The benefits of maintaining specific day books, and
  6. How the cash book ...

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