Which of the following statements is CORRECT?

Question

Quizplus · Accepted Answer

The general ledger is a collection of all accounts used by a company and it contains the information necessary to prepare the financial statements. Option B is incorrect because the general journal is a primary book of original entry in which transactions are recorded chronologically, and then later posted to the general ledger. Option C is incorrect because the account name, not the account number, is typically written in the Posting Reference column in the general ledger. Option D is also incorrect because the page number refers to the page number in the general journal, not in the general ledger.

Which of the Following Statements Is CORRECT