The ____________ is a book or file containing the activity by accounts of a business.
A) general ledger
B) journal
C) trial balance
D) income statement

Question

Quizplus · Accepted Answer

A general ledger is a book or file that contains the activity by accounts of a business. It is the central location for all financial transactions that occur within a company. The journal is used to record individual transactions as they occur, which are later summarized in the general ledger. The trial balance is a report that lists all the accounts and their balances to ensure that debits and credits are equal. The income statement shows the company's revenues and expenses for a specific period.

The ____________ Is a Book or File Containing the Activity