Question

multiple select question
select all that apply
the general ledger can be used to determine which of the following?

which accounts are being used by a company and their balances at any given time
common and unique accounts used by a business
increases and decreases in all accounts in a business
a complete record of each transaction in one account

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Explanation:

A general ledger is a core accounting record that contains all of a company's accounts, tracks their debit/credit (increase/decrease) activity, maintains current account balances, and provides a full transaction history for each individual account. All the listed options describe valid uses of a general ledger.

Answer:

• which accounts are being used by a company and their balances at any given time
• common and unique accounts used by a business
• increases and decreases in all accounts in a business
• a complete record of each transaction in one account