The record of all accounts and their balances used by a business is called a:
A) Balance column journal.
B) Ledger (or General Ledger).
C) General Journal.
D) Book of original entry.
E) Journal.

Question

Quizplus · Accepted Answer

The ledger (or general ledger) is the record of all accounts and their balances used by a business. Options A, C, D, and E refer to specific types of accounting records, but the ledger is the only one that specifically matches the description given.

The Record of All Accounts and Their Balances Used by a Business