Accounting · Ledger Accounts
What is a ledger account?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A record of all transactions that were initially recorded in the bank general ledger account.
- 2A record of all transactions that affect only the statement of profit or loss.
- 3A record of all transactions relating to a particular item in accordance with the principles of double-entry bookkeeping during an accounting period.✓
- 4A record of all macro-economic transactions that occurred during an financial year.
Correct answer
A record of all transactions relating to a particular item in accordance with the principles of double-entry bookkeeping during an accounting period.
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