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The general ledger can be used to determine which of the following (select all answers which apply): Multiple select question. which accounts are being used by a company and their balances at any given time. common and unique accounts used by a business. increases and decreases in all accounts in a business. a complete record of each transaction in one account.

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ayfat23

Answer:

✓which accounts are being used by a company and their balances at any given time.

✓common and unique accounts used by a business.

✓increases and decreases in all accounts in a business.

Explanation:

In domain of bookkeeping, General ledger can be regarded as nominal ledger, which is bookkeeping ledger in which accounting data is been posted from journals as well as subledgers. The subledgers could be cash management, purchasing and projects, accounts payable and accounts receivable as well as fixed assets. It should be noted that general ledger can be used to determine;

✓increases and decreases in all accounts in a business.

✓which accounts are being used by a company and their balances at any given time.

✓common and unique accounts used by a business.

Tundexi

The general ledger can be used to determine:

  • which accounts are being used by a company and their balances at any given time.
  • the common and unique accounts used by a business
  • an increases and decreases in all accounts in a business.

In accounting, a general ledger refers to a record that entails all financial transaction of a firm that provide an accurate entries for financial statements.

Hence, the general ledger can be used to determine which accounts are being used by a company and their balances at any given time, the common and unique accounts used by a business and an increases and decreases in all accounts in a business.

Therefore, the Option A, B and C is correct.

Read more about general ledger

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