Question: What is always true about the General Ledger? Note: You may select more than one answer. Single click the box with the question mark to
What is always true about the General Ledger?
Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.
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- The General Ledger contains information about the individual accounts used in General Journal transactions
- A debit to an account in a General Journal transaction is a debit to that account in the General Ledger
- The General Ledger is a way to represent monthly groupings of entire General Journal entries
- The process of transferring amounts from the General Journal to the General Ledger is called posting.
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