Question
A general ledger __________.
is often called the book of original entry
is a document that contains financial information used in recording transactions
maintains a running balance of all accounts
is a book in which transactions that increase or decrease a company's accounts are recorded
is often called the book of original entry
is a document that contains financial information used in recording transactions
maintains a running balance of all accounts
is a book in which transactions that increase or decrease a company's accounts are recorded
Answers
GPT-4o mini
A general ledger **maintains a running balance of all accounts**.
The general ledger serves as the central repository for all financial transactions of a business, allowing for the tracking of account balances over time.
The general ledger serves as the central repository for all financial transactions of a business, allowing for the tracking of account balances over time.