A statement in a double-entry system in which are recorded all the transactions of one specific class, which takes place during the period is called
-
A.
Double entry system -
B.
Ledger -
C.
Cash Book -
D.
Petty Cash Book
Correct Answer: Option B
Explanation
A ledger is a separate record within the general ledger that is assigned to a specific asset, liability, equity item, revenue type, or expense type. Examples of ledger accounts are: Cash, Accounts receivable.