Knowledge Check\ The general ledger provides the balance in each of the accounts.\ Regardless of size, all companies use the same accounts in their chart of accounts.\ A chart of accounts is a list of the names of a company's accounts and their balances.\ The procedure of transferring journal entry amounts to ledger accounts is called posting.

1. The general ledger provides the balance in each of the accounts. 2. Regardless of size, all companies use the same accounts in their chart of accounts. 3. A chart of accounts is a list of the names of a company's accounts and their balances. 4. The procedure of transferring journal entry amounts to ledger accounts is called posting