A ledger is a collection of the entire group of accounts maintained by a company. contains only asset and liability accounts. provides a chronological record of transactions. should show accounts in alphabetical order.

Question

Barrett Newman

Business

8 December, 00:09

A ledger is a collection of the entire group of accounts maintained by a company. contains only asset and liability accounts. provides a chronological record of transactions. should show accounts in alphabetical order.

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Answers (2)

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Yasmine York · Answer 1

Answer: A ledger is a collection of the entire group of accounts maintained by a company

Explanation: A ledger is a general book of accounting which contains a record of business transactions. It is also defined as a collection of accounting entries consisting of credits and debits. It represents the record-keeping system for a company's financial data thus providing a record of every financial transaction that occurs during the life of an operating company. The company's transaction data is classified by type into accounts for assets, liabilities, revenues, and expenses, owner's equity.

Ayaan Anderson · Answer 2

The correct answer is is a collection of the entire group of accounts maintained by a company.

Explanation:

A ledger or also known as a ledger, is a book that lists all the economic operations recorded in the different accounting accounts of the company in chronological order. A ledger must be kept for each accounting account that has been used in all accounting.

In a general ledger you can see the movements that have been made in a specific accounting account, thus having control of what has entered and exited that particular account and its balance at any time.