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

Question

Quizplus · Accepted Answer

The ledger (or general ledger) is the record of all accounts and their balances used by a business. The other options are types of journals used in accounting but they do not contain the complete record of all accounts and their balances.

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