Account balances in the general ledger and the subsidiary ledgers should be proved for accuracy after posting is complete.

Question

Quizplus · Accepted Answer

It is important to ensure that the account balances in the general ledger and subsidiary ledgers are accurate after posting is complete to ensure the accuracy of the financial statements. This is typically done through a process of reconciliation and review.

Account Balances in the General Ledger and the Subsidiary Ledgers