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WAEC Financial Accounting 1997 Question 23

Question 23

Double Entry and the Ledger

A ledger is a

  1. A.book of accounts
  2. B.summary of entries
  3. C.book of original entry
  4. D.double-entry posting
  5. E.record of credit transactions.
Show the answer and explanation

Answer: A (book of accounts)

Explanation

The ledger is the main book containing all the accounts of the business.