The record of all accounts and their balances used by a business is called a:
a. ledger (or general ledger).
b. journal.
c. book of original entry.
d. balance column journal.
e. general journal.

B) Journal

Explanation:

journal is the record of the details of all financial transactions of a business. Journal helps to keep records of the accounts the transactions affects.

Journals contains all the recorded financial transaction information about a business. It is also known as a BOOK OF FIRST ENTRY. Journal is a detailed account that records all the financial transactions of a business, to be used for future reconciling of and transfer to other official accounting records. A journal contains the date of a transaction, which accounts were affected, and the amounts of the transaction.

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