A ledger:
A)includes all company accounts and their balances.
B)can replace the financial statements.
C)is the same as a chart of accounts.
D)is known as a worksheet.

Question

Quizplus · Accepted Answer

A ledger includes all company accounts and their balances. It is a record of all financial transactions and is used to prepare financial statements. A ledger is not the same as a chart of accounts or a worksheet, and it cannot replace financial statements.

A Ledger