An accountant wanting to know the balance of a particular account would refer to the
A) ledger.
B) chart of accounts.
C) book of original entry.
D) source document.
E) journal.

Question

Quizplus · Accepted Answer

The ledger is where account balances and transactions are recorded and can be used to find the balance of a particular account. The chart of accounts lists all of the accounts used by a company, but does not show balances. The book of original entry and source documents are used to record individual transactions, but do not show the balance of an account. The journal is used to record transactions before they are transferred to the ledger.

An Accountant Wanting to Know the Balance of a Particular