A separate ledger account is maintained for each:
A) business transaction.
B) day of business.
C) item that appears in the financial reports.
D) journal entry.

Question

Quizplus · Accepted Answer

A separate ledger account is maintained for each item that appears in the financial reports, such as assets, liabilities, equity, revenue, and expenses, to track and organize financial transactions related to these items over time.

A Separate Ledger Account Is Maintained for Each