Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 3 - The Accounting Information System - Self-Test Questions: 12

Answer

C : is a collection of the entire group of accounts maintained by a company

Work Step by Step

A is incorrect because ledger does contain equity, expense and revenue accounts too. B is incorrect because ledger shows accounts in the order of their chart of accounts number. D is incorrect because a general journal shows the transactions in chronological order, not a ledger.
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