Accounting · Ledger Accounts
What is the primary purpose of a ledger account?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1It enables a business to determine only the initial capital invested by the proprietor.
- 2It enables a business to calculate national economic factors during a fiscal period.
- 3It enables a business to identify the exact valuation of all fixed assets at any given millisecond.
- 4It enables a business to classify, record, and summarise transactions in an orderly and consistent manner.✓
Correct answer
It enables a business to classify, record, and summarise transactions in an orderly and consistent manner.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Ledger Accounts MCQs →Want more practice questions on Ledger Accounts?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Ledger Accounts