In accounting,a ledger is a time-ordered list of accounting transactions.

Ledger

A book or computer file with separate sections for each account.

Accounting Transactions

Financial activities that affect the accounting equation, documented through the exchange or transfer of economic value.

Familiarize yourself with the terminology and systematic approaches in accounting, highlighting the documentation processes, the accounting cycle’s continuity, and the foundational equations.

Verified Answer

Hiwot FantaJul 17, 2024

Final Answer :

False

Explanation :

A ledger is a collection of accounts in which transactions are recorded, categorized, and summarized; it is not primarily organized by time but by account.

Learning Objectives

Familiarize yourself with the terminology and systematic approaches in accounting, highlighting the documentation processes, the accounting cycle’s continuity, and the foundational equations.

In accounting,a ledger is a time-ordered list of accounting transactions.

Definitions

Learning Objectives

Learning Objectives

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