Accounting · Ledger Book
In relation to the ledger, which of the following statements is INCORRECT?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A ledger is the collection of all accounts in the journal proper only, excluding various special journals.✓
- 2A ledger contains different accounts, wherein transactions relating to that account are recorded.
- 3A ledger is the principal book of the accounting system.
- 4The net result of all the transactions in respect of a particular account on a given date can be ascertained only from the ledger.
Correct answer
A ledger is the collection of all accounts in the journal proper only, excluding various special journals.
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