Business transactions are originally recorded chronologically in the ledger.Select one:TrueFalse

The statement "Business transactions are originally recorded chronologically in the ledger" is False.

In accounting, business transactions are initially recorded in a journal, which is often referred to as the book of original entry. This journal keeps transactions in chronological order, detailing each transaction as it occurs. Once the transactions are recorded in the journal, they are subsequently posted to the ledger accounts. The ledger contains the individual accounts where transactions are categorized and summarized. Therefore, the accurate representation is that transactions are recorded chronologically in the journal, not directly in the ledger. Hence, the correct answer to the statement is False.