Accounting · General Ledger
What is the general ledger?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The general ledger contains all of the individual ledger accounts used by a business.✓
- 2The general ledger contains the statement of profit or loss and the statement of financial position directly.
- 3The general ledger is a record of all amounts owed to individual suppliers and owed by individual customers.
- 4The general ledger is a record of only assets and liabilities of the business.
Correct answer
The general ledger contains all of the individual ledger accounts used by a business.
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