The primary ledger containing all the balance sheet and income statement accounts is the
A) general ledger
B) creditors ledger
C) customers ledger
D) subsidiary ledger

Question

Quizplus · Accepted Answer

The general ledger is the primary ledger where all the balance sheet and income statement accounts are recorded. The creditors ledger and customers ledger are subsidiary ledgers that contain details of specific transactions with creditors and customers respectively.

The Primary Ledger Containing All the Balance Sheet and Income