Ask Question
BusinessBusiness
20 July, 15:10

The ledger is: (A) a group of accounts that records data from business transactions. (B) a tool used to make sure that all accounts have normal balances. (C) a chronological record of the day's transactions. (D) a tool used to ensure that debits equal credits.

+1
Answers (1)
  1. 20 July, 15:14
    0
    Answer: (A) a group of accounts that records data from business transactions.

    Explanation: Hi, a ledger is a record of all the transactions of a business. The transactions are recorded in different accounts in the ledger.

    The ledger is a record that can be written down, or computerized. Nowadays the majority of modern companies have this system computerized for practical reasons.

    the most common accounts are : cash, accounts payable, and retained earnings.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The ledger is: (A) a group of accounts that records data from business transactions. (B) a tool used to make sure that all accounts have ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A favorable direct labor efficiency variance might indicate that A. lower skilled workers were paid a lower wage than expected. B. lower skilled workers were paid a higher wage than expected. C.
Answers (1)
Which of the following items is NOT included in current assets? a. Cash. b. Accounts receivable. c. Bonds. d. Short-term, highly liquid, marketable securities. e. Inventory.
Answers (1)
A petty cash fund of $100 is replenished when the fund contains $14 in cash and receipts for $94. The entry to replenish the fund would A. credit Cash Over and Short for $2. B. credit Miscellaneous Revenue for $2. C. debit Cash Over and Short for $2.
Answers (1)
In which of the following situations would the price of a good be most likely to increase? An increase in production costs results from a rise in wages. A rise in demand happens too quickly for producers to increase production to keep up.
Answers (1)
What is consumer surplus? Using real-world data, what information would you need to measure consumer surplus for a product?
Answers (1)
New Questions in Business
That the total dollar amount of the debits equals the total dollar amount of the credits in the ledger accounts can be verified through a (n) a. balance sheet b. trial balance c. chart of accounts d. income statement
Answers (1)
Coronado Shoes Fool Inc. is involved in litigation regarding a faulty product sold in a prior year. The company has consulted with its attorney and determined that it is possible that they may lose the case.
Answers (1)
Suppose during 2014 that Federal Express reported the following information (in millions) : net sales of $35,497 and net income of $98.
Answers (2)
During a certain four-year period, the consumer price index (CPI) increased by 30%, but during the next four-year period, it increased by only 10%. Which of these conditions must have existed during the second four-year period? A. Deflation B.
Answers (2)
Flagstaff Company has budgeted production units of 7,900 for July and 8,100 for August. The direct materials requirement per unit is 2 ounces (oz.).
Answers (1)
Home » Business » The ledger is: (A) a group of accounts that records data from business transactions. (B) a tool used to make sure that all accounts have normal balances. (C) a chronological record of the day's transactions.
Sign Up Forgot Password?