Which of the following is the record holding all the accounts,the changes in those accounts,and their balances?
A) Source document
B) Journal
C) Ledger
D) Trial balance

Question

Quizplus · Accepted Answer

A ledger is a record that holds all the accounts, changes in those accounts, and their balances. It is used to organize and summarize financial transactions in a company, and serves as the main source of information for creating financial statements. Source documents are the original records of transactions, journals are used to record daily transactions before they are transferred to the ledger, and trial balance is a summary of all accounts and their balances used for checking the accuracy of the ledger. Therefore, the best choice for this question is C, ledger.

Which of the Following Is the Record Holding All the Accounts,the