Question
A general ledger __________.
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
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
Answers
GPT-4o mini
A general ledger **maintains a running balance of all accounts**.
It is a comprehensive collection of all financial transactions of a company categorized into various accounts, showing the current balance for each account.
It is a comprehensive collection of all financial transactions of a company categorized into various accounts, showing the current balance for each account.