The ledger accounts should be arranged in
A) chronological order.
B) alphabetical order.
C) financial statement order.
D) order of appearance in the journal.

Question

Quizplus · Accepted Answer

The ledger accounts should be arranged in financial statement order, which means grouping together accounts that belong on the same financial statement. This typically includes grouping assets, liabilities, equity, revenue, and expenses. This organization makes it easier to prepare financial statements at the end of an accounting period.

The Ledger Accounts Should Be Arranged in