opening entry is recorded in journal paper true/false
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True
Explanation:
A journal entry by means of which the balances of various assets, liabilities, and capital appearing in the balance sheet of the previous accounting period are brought forward in the books of a current accounting period is known as an opening entry.
When next financial year is started, accountant writes one journal entry in the beginning of every financial year in which he shows all the opening balance of assets and all the liabilities include capital. Then that journal entry is called opening journal entry.
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