Economics · Accounting Books
Which one of the following statements regarding the trial balance and ledger is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A ledger is known as the principal book of accounts.✓
- 2At the end of the accounting year, all the nominal accounts of the ledger book are balanced.
- 3A suspense account opened in a trial balance is a permanent ledger account.
- 4Agreement of a trial balance is a conclusive proof of total accuracy.
Correct answer
A ledger is known as the principal book of accounts.
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