The ledger is
A) a group of accounts that records data from business transactions.
B) a tool used to make sure that all accounts have normal balances.
C) a chronological record of the day's transactions.
D) a tool used to ensure that debits equal credits.

Question

Quizplus · Accepted Answer

The ledger is a group of accounts that records data from business transactions. It is used to record and track financial data such as revenues, expenses, assets, and liabilities, and allows businesses to keep track of their financial health. It contains all the information related to individual accounts, including transactions, account balances, and other relevant financial information.

The Ledger Is