Question: Management needs more detailed information than is contained in the financial statements. For example, instead of one account, Accounts Receivable, it needs an account for

Management needs more detailed information than is contained in the financial statements. For example, instead of one account, Accounts Receivable, it needs an account for each customer so that the amount owed by each customer is known. Therefore the ledger usually contains

[the same number of / many more] accounts than there are items on the financial statements.

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