For a general ledger accounting system to be properly maintained,data must be
A) collected.
B) recorded.
C) properly classified and entered into appropriate records for further summations.
D) All of these answers are correct.

Question

Quizplus · Accepted Answer

To maintain a general ledger accounting system properly, all of the given options are correct. First, data must be collected from various sources such as invoices, receipts, and bank statements. Second, this data must be recorded accurately in the ledger. Finally, the recorded data must be classified and entered into appropriate records such as journals for further summations. Therefore, option D correctly summarizes all the necessary steps for maintaining a general ledger accounting system.

For a General Ledger Accounting System to Be Properly Maintained,data