Problem What is always true about the General Ledger? (Select all that apply) A

Question

Problem What is always true about the General Ledger? (Select all that apply) A The process of transferring amounts from the General Journal to the General Ledger is called posting B. The General Ledger is a way to represent monthly groupings of entire General Journal entries C. The General Ledger contains information about the individual accounts used in General Journal transactions D. A debit to an account in a General Journal transaction is a debit to that account in the General Ledger Step-by-step solution

Explanation / Answer

The first statement is correct.

Ledger posting is the second stage in accounting, where in each accounting transactions are transferred and grouped in identical account.

Statement C is also correct.

In ledger accounts are grouped.

Statement B and D are incorrect.

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