An accounting record of the balances of all assets, liabilities, and stockholders' equity accounts is called a
A) compound entry.
B) general journal.
C) general ledger.
D) chart of accounts.

Question

Quizplus · Accepted Answer

A general ledger is a complete record of all asset, liability, and stockholders' equity accounts that are used to help prepare financial statements. The other options, compound entry, general journal, and chart of accounts are not comprehensive records of all accounts.

An Accounting Record of the Balances of All Assets, Liabilities