A collection of all accounts (with account balances) used by a business is called a:
A)Journal
B)Book of original entry
C)General Journal
D)Balance column journal
E)General Ledger

Question

Quizplus · Accepted Answer

A General Ledger is a collection of all accounts used by a business, along with their respective balances. The other options listed are all types of journals, which are used to record specific transactions before they are transferred to the general ledger.

A Collection of All Accounts (With Account Balances) Used by a Business