Question

Which of the following describes a general ledger? Multiple choice question. The general ledger describes all liability accounts. The general ledger is a record of all transactions in alphabetical order. The general ledger combines sales and expenses to determine the net income of a business. The general ledger is a record containing all accounts used by a company.

Answer 1

There are different kinds of ledger. The general ledger is a record containing all accounts used by a company.

What Is a General Ledger?

A general ledger is known to be a document that is said to be the record-keeping system used by a company’s financial data.

It has a debit and credit account records. It is known to help one to have a record of each financial transaction that occurs during the operations of an operating firm.

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