An accounts payable ledger:
A) Contains a separate account for each creditor (supplier) to the company.
B) Is a book of original entry designed and used for recording only a specified type of transaction.
C) Contains the financial statement accounts of a business.
D) Contains an account for each credit customer.
E) Lists the balances of selected accounts that are added to show the total amount of the significant long-term creditors outstanding.

Question

Quizplus · Accepted Answer

An accounts payable ledger contains a separate account for each creditor or supplier to the company. This ledger is used to keep track of the amounts owed and payment terms with each supplier.

An Accounts Payable Ledger