The usual ordering of accounts in the general ledger is
A)assets, liabilities, shareholders' equity, revenues, and expenses.
B)assets, liabilities, shareholders' equity, expenses, and revenues.
C)liabilities, assets, shareholders' equity, revenues, and expenses.
D)shareholders' equity, assets, liabilities, expenses, and revenues.

Question

Quizplus · Accepted Answer

The usual ordering of accounts in the general ledger follows the format of the balance sheet and income statement. It starts with assets, followed by liabilities, then shareholders' equity (reflecting the balance sheet structure), and concludes with revenues and expenses (mirroring the income statement structure).

The Usual Ordering of Accounts in the General Ledger Is