The ledger:
A)is a grouping of all of the balance sheet accounts only.
B)is a grouping of all the income statement accounts only.
C)contains all the accounts used by a business.
D)contains only the permanent accounts used by a business.

Question

Quizplus · Accepted Answer

The ledger contains all the accounts used by a business, including both balance sheet and income statement accounts. It is a comprehensive record of a company's financial transactions. Therefore, options A, B, and D are incorrect.

The Ledger