Multiple choice

Directions: Choose the correct option for the given question:

______ is prepared to make the cost ledger self balancing.

  1. General ledger

  2. Special ledger

  3. Special journal

  4. General ledger adjustment

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The General Ledger Adjustment account is used in non-integral accounting systems to make the cost ledger self-balancing by acting as a contra-account for all transactions involving the financial ledger.

Keep practicing — related questions