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13 May, 14:33

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.

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Answers (1)
  1. 13 May, 15:32
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    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.
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Home » Business » 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.
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