WAEC Financial Accounting 2010 Question 4

Question 4

Double Entry and the Ledger

A ledger is a

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

Answer: A (principal book of accounts)

Explanation

The ledger is the main (principal) book where all the accounts are kept.