Saturday , 15 June 2024
Home / Computer Science / Management Information System / Which one produce periodic financial statements and business reports?

Which one produce periodic financial statements and business reports?

A. General Ledger
B. Final Account
C. Trail Balance
D. Cash ledger

Answer & Solution
Option: A
Explanation :A general ledger represents the record-keeping system for a company’s financial data with debit and credit account records validated by a trial balance. The general ledger provides a record of each financial transaction that takes place during the life of an operating company.
The general ledger holds account information that is needed to prepare the company’s financial statements, and transaction data is segregated by type into accounts for assets, liabilities, owners’ equity, revenues, and expenses.
Discuss in Forum
Report Error
Please comment below with correct answer and it’s detail explanation.



    About malik best

    Check Also

    Which system uses the condition concept for processing?

    A. Frame based B. Rule based C. Object based D. Case based

    Leave a Reply

    Your email address will not be published. Required fields are marked *