Accounting · Sectional Balancing System
With respect to a sectional ledger balancing system, which of the following statements is INCORRECT?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The double entry system is completed in the general ledger only.
- 2A complete trial balance can be prepared only from the general ledger under this system.✓
- 3Personal ledgers, namely the debtor's ledger and creditor's ledger, do not contain control accounts under this system.
- 4Control accounts are prepared in the general ledger only; the names of these control accounts are total debtors account and total creditors account.
Correct answer
A complete trial balance can be prepared only from the general ledger under this system.
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