Скачать или смотреть General Ledger Quiz 2

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Can you answer these five questions on the General Ledger in accounting?

1. The General Ledger is a summary of a business's Revenues and Expenses over a period of time. True or False?
2. The Trial Balance is prepared directly from the General Ledger. True or False?
3. The balance of a Control Account must match the total of its Subledger. True of False?
4. Accounts Receivable, Accounts Payable & Fixed Assets often have Subledgers. True or False?
5. The General Ledger is only updated at the end of an Accounting Period. True or False?

How many did you get right? Let us know in the comments.

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