Which of the following statements is correct?

Question

Quizplus · Accepted Answer

The general ledger contains all the accounts that are used to prepare financial statements. It is the main ledger that contains a summary of all transactions and account balances for a company.

Answer: B 
 Companies typically use both a general journal and a general ledger. The general journal is used to record non-routine transactions, while the general ledger is used to record routine transactions.

Answer: C 
 When entries are posted from the general journal to the general ledger, the account number is written in the Posting Reference column in the general ledger. This allows for easy tracking and reference back to the original entry in the general journal.

Answer: D 
 The page number is not written in the Posting Reference column in the general journal. Instead, the account number is written in the Posting Reference column in the general ledger.

Which of the Following Statements Is Correct