A ledger: Select one:

a. contains only asset and liability accounts.

b. should show accounts in alphabetical order.

c. is a record of all accounts maintained by a company and their amounts.

d. provides a chronological record of transactions.

Question

Business

Catherine Lang

1 December, 09:24

A ledger: Select one:

a. contains only asset and liability accounts.

b. should show accounts in alphabetical order.

c. is a record of all accounts maintained by a company and their amounts.

d. provides a chronological record of transactions.

+1

Answers (1)

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Brynn Morgan · Answer 1

c. is a record of all accounts maintained by a company and their amounts.

Explanation:

A ledger is a record of all the company's transaction. A ledger is a separate accounting record within the general ledger.

Ledgers are specific to the various elements of a financial statement such as assets, liabilities, equity, expenses etc. Examples include the cash ledger, inventory ledger, accounts receivables ledger, accounts payable ledger.

The right option is c. is a record of all accounts maintained by a company and their amounts.

A ledger: Select one:a. contains only asset and liability accounts.b. should show accounts in alphabetical order.c. is a record of all accounts maintained by a company and their amounts.d. provides a chronological record of transactions.

A ledger: Select one:

a. contains only asset and liability accounts.

b. should show accounts in alphabetical order.

c. is a record of all accounts maintained by a company and their amounts.

d. provides a chronological record of transactions.