A ledger is classified into
...A ledger is classified into
Private, sales and purchases
Personal, general and private
General, private and sales
Sales, purchases and general
Correct answer is D
The three types of ledgers are general, sales, and purchase ledgers.
The sales ledger records all sales transactions, whether cash or credit sales. While the purchase ledger records all purchases including those fully paid for and unpaid.
The general ledger, on the other hand, is a document providing a complete record of all the financial transactions of your business.
Use the information below to answer this question At the end of a financial period, the trading p...
Which of the following statements is not valid? ...
\(\begin{array}{c|c} & D\\ \hline \text{Purchase of raw materials} & 236,500\\ \text{Returns...
Use the following information to answer the given question RECEIPTS AND PAYMENTS ACCOUNT: ...
Stock or raw materials(1st January) 3000 Direct wages 2500 Direct expenses 1000 Factory overheads...
The accumulated fund of a non-trading concern can equally be referred to as? ...
\(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 - debit \\ \text{...