Which of the following is known as the base for preparing trial balance?
A). Journal
B). Cash account
C). Ledger account
D). Balance Sheet
Ledger account
Ledger account is known as the base for preparing trial balance. The trial balance can then be prepared by listing each closing balance from the general ledger accounts as either a debit or a credit balance.
1. _____ will be credited if goods are given as charity
2. An 'account' records the ______ in the balance of an item
3. Transferring entries from journal to ledger account is commonly known as
4. Specialized journals are more adequate for which type of businesses?
6. The model base cannot be prepared until
7. The main purpose of the system investigation phase is to produce
8. Which of the following is not a characteristic of a system?