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Questions and Answers
How long must the journal book be kept for?
How long must the journal book be kept for?
- 5 years
- 7 years
- 10 years (correct)
- 15 years
What information must accompany each transaction in the journal book?
What information must accompany each transaction in the journal book?
- Date of operation (correct)
- Nature of the transaction
- Name of the patient or client
- All of the above
What form can the journal book be kept in?
What form can the journal book be kept in?
- Digital
- Paper
- Both digital and paper (correct)
- Neither digital nor paper
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Study Notes
- The journal book is a register of the company's accounting operations that traces the inflow and outflow of money by assigning them an accounting account.
- Each transaction must be accompanied by the following information: date of operation, nature of the latter, name of the patient or client if applicable, amount, and breakdown if several accounts involved.
- The journal book can be kept in digital or paper form.
- The journal book must be kept for a minimum of 10 years and for electronically transmitted invoices, they must be kept for at least 3 years in their original format.
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