The general ledger
A)is used to record infrequent or non-routine transactions.
B)simplifies the process of recording large numbers of repetitive transactions.
C)records all detailed data for any general ledger account that has individual sub-accounts.
D)contains summary-level data for every account of the organization.

Question

Quizplus · Accepted Answer

The general ledger contains summary-level data for every account of the organization. Option A is incorrect as infrequent or non-routine transactions are recorded in special journals. Option B is incorrect as it refers to subsidiary ledgers. Option C is incorrect as only accounts with many sub-accounts require sub-ledgers.

The General Ledger