A ________ is a specialized accounting book, where transactions are categorized according to type. For example, all utility transactions are recorded in the same category.
A) journal
B) trial balance
C) ledger
D) balance sheet

Question

Quizplus · Accepted Answer

A ledger is a specialized accounting book where transactions are categorized according to type. The ledger contains separate accounts for assets, liabilities, owner's equity, revenue, and expenses. Transactions are recorded in these accounts as debits and credits, and the ledger provides a running balance for each account. The other options listed do not fit the description of a specialized accounting book categorizing transactions.

A ________ Is a Specialized Accounting Book, Where Transactions Are