Question

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

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

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Explanation:

A general ledger is a core accounting record that contains all of a business's accounts. It maintains a full transaction history for each individual account, tracks all debit (increases for asset/expense, decreases for liability/equity/revenue) and credit (opposite of debit) changes across every account, lists all active accounts the business uses along with their current balances, and encompasses both standard (common) and specialized (unique) accounts specific to the business's operations.

Answer:

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