Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 18 - No. 27)
What is the primary purpose of a 'ledger'?
To record all daily transactions.
To classify and summarize transactions by account.
To provide a detailed listing of cash transactions.
To prepare the financial statements.
Explanation
A ledger provides a complete record of all the transactions that affect a particular account.
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