A statement in a double-entry system in which are recorded all the transactions of one...
FINANCIAL
JAMB 2019
A statement in a double-entry system in which are recorded all the transactions of one specific class, which takes place during the period is called
- A. Double entry system
- B. Ledger
- C. Cash Book
- D. Petty Cash Book
Correct Answer: B. Ledger
Explanation
A ledger is a separate record within the general ledger that is assigned to a specific asset, liability, equity item, revenue type, or expense type. Examples of ledger accounts are: Cash, Accounts receivable.
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *