A ledger is used to:
A)show increases and decreases in individual accounts,as well as the ending balance.
B)report the results of operations to stockholders,creditors,and managers.
C)prove that debits equal credits.
D)make a balance sheet unnecessary.

Question

Quizplus · Accepted Answer

Transactions are analyzed and their financial effects are entered into journals each day they occur.Later,these journal entries are summarized in ledger accounts that keep track of the financial effects on each account.

A Ledger Is Used To