Question

What is the purpose of a general ledger?


What is the purpose of a general ledger?


To maintain all accounts in the accounting system


To track customer payments


To record daily transactions


To manage payroll

Answers

Answer
RESPONSES ONLY
Answered by GPT 3.5
To provide a complete financial record of a company's transactions, assets, liabilities, equity, revenues, and expenses. It serves as the central repository for all financial information and helps in creating accurate financial statements and reports for decision-making, budgeting, and auditing purposes.
Answered by GPT 3.5
- To maintain all accounts in the accounting system
- To track customer payments
- To record daily transactions
- To manage payroll