Ledger records transaction in :
a) Analytical order
b) A chronological order
c) Both of the above
d) None
Correct answer is option 'B'. Can you explain this answer?
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Answers
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Ræjü Bhåì
Jul 25, 2019 |
Answer: (b) Analytical order
Description: The financial information in a ledger is recorded as classified by its nature and relevance. The transactions are recorded in an account form i.e. all transactions of same nature at one place. This gives it an analytical character and hence can be said that ledger records transactions in an analytical order.
Thank You.
Description: The financial information in a ledger is recorded as classified by its nature and relevance. The transactions are recorded in an account form i.e. all transactions of same nature at one place. This gives it an analytical character and hence can be said that ledger records transactions in an analytical order.
Thank You.
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Gayatri Hajbe
Nov 11, 2020 |
Answer : Option C) both: chronological order and Analytical order also.
Explanation: Firstly, transactions are posted from Journal to Ledger. And this process is in chronological order it means we record the transactions date wise.
And this is also true that it is recorded in the form of account. It maintains all transactions of same nature at one place. So, it's We can also say that Ledger records transactions in Analytical order.
From this we can conclude that the answer is C) both.
I hope this is helpful.
Thank u
Explanation: Firstly, transactions are posted from Journal to Ledger. And this process is in chronological order it means we record the transactions date wise.
And this is also true that it is recorded in the form of account. It maintains all transactions of same nature at one place. So, it's We can also say that Ledger records transactions in Analytical order.
From this we can conclude that the answer is C) both.
I hope this is helpful.
Thank u
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Nimmi Maurya
Sep 30, 2020 |
Yes, ledger record transactions in chronological order because they are recorded from journal entry in which transactions are written in the order they entered .i.e chronological order.
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Crafty Classes
Feb 18, 2022 |
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The correct option is Option B.
In bookkeeping and accounting, a ledger is a book (or record) for collecting historical transaction data from a journal and organizing entries by account. The ledger provides the transaction history and current balance in each accounting system account, throughout the accounting period.
Answer: (b) Analytical orderDescription: The financial information in a ledger is recorded as classified by its nature and relevance. The transactions are recorded in an account form i.e. all transactions of same nature at one place. This gives it an analytical character and hence can be said that ledger records transactions in an analytical order. Thank You.
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Answer: (b) Analytical orderDescription: The financial information in a ledger is recorded as classified by its nature and relevance. The transactions are recorded in an account form i.e. all transactions of same nature at one place. This gives it an analytical character and hence can be said that ledger records transactions in an analytical order. Thank You.
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