Accounts are classified in the ledger
A) chronologically
B) alphabetically
C) in accordance with their appearance in the financial statements
D) with the accounts used most often listed first

Question

Quizplus · Accepted Answer

Accounts are classified in the ledger in accordance with their appearance in the financial statements, which typically follows a specific order such as assets, liabilities, equity, revenue, and expenses. This order helps to organize and present financial information in a clear and comprehensive manner.

Accounts Are Classified in the Ledger