The ledger that contains the financial statement accounts of a business is the
A)Columnar journal.
B)General ledger.
C)General journal.
D)Accounts payable ledger.
E)Subsidiary ledger.

Question

Quizplus · Accepted Answer

The general ledger is the ledger that contains the financial statement accounts of a business. It is the main ledger where all the transactions of a business are recorded and posted to their respective accounts. The other options (A, C, D, E) refer to different types of ledgers that may be used in accounting, but they do not contain the financial statement accounts.

The Ledger That Contains the Financial Statement Accounts of a Business