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Which statement best explains Ledger?

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Question ID #25866 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Accounting Principles Sectional Test 2026 Medium

Which statement best explains Ledger?

Correct Answer: B. Book containing individual accounts to which journal entries are posted
Ledger: Book containing individual accounts to which journal entries are posted

Question: Which statement best explains Ledger?

A. Obligation expected to be settled within the operating cycle or specified short period

B. Book containing individual accounts to which journal entries are posted

C. Book of original entry in which transactions are first recorded chronologically

D. Assets = Liabilities + Equity

Correct Answer: B. Book containing individual accounts to which journal entries are postedLedger: Book containing individual accounts to which journal entries are posted

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Which statement best explains Ledger? - MCQ Explanation

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Correct answer: B. Book containing individual accounts to which journal entries are posted