The ledger that contains the financial statement accounts of a company is the:
A)General ledger
B)General journal
C)Special ledger
D)Special journal
E)Column balance ledger

Question

Quizplus · Accepted Answer

The general ledger contains all the financial statement accounts of a company, such as assets, liabilities, equity, revenues, and expenses. It is the main ledger where all the transactions are posted and summarized at the end of each accounting period. The other options (B, C, D, E) refer to separate ledgers or journals that serve specific purposes, but not the financial statements accounts.

The Ledger That Contains the Financial Statement Accounts of a Company