Post Utme Achievers University 2019 Accounting Question 31

Practice objective / multiple choice question 31 from the 2019 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2019 Accounting Objective / Multiple Choice
Question 31 POST_UTME_ACHIEVERS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company uses a self-balancing ledger to record its transactions. The ledger has the following accounts: Cash, Accounts Payable, and Sales Revenue. The ledger is balanced at the end of each month. What is the purpose of the self-balancing ledger in this scenario?

Answer Options

Correct Answer A. To ensure that the company's financial statements are accurate and reliable.
B. To simplify the process of recording and classifying transactions.
C. To reduce the risk of errors in the accounting records.
D. To increase the speed of preparing financial statements.
Correct Answer
A
Correct Option:
To ensure that the company's financial statements are accurate and reliable.

About This Question

This is Post Utme Achievers University 2019 Accounting Question 31. It is one of the objective questions from the 2019 Post Utme Achievers University Accounting examination.

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