Post Utme Ims U 2018 Accounting Question 19

Practice objective / multiple choice question 19 from the 2018 Post Utme Ims U Accounting examination.

Post Utme Ims U 2018 Accounting Objective / Multiple Choice
Question 19 POST_UTME_IMS_U • 2018 • ACCOUNTING • objective

A company uses a self-balancing ledger system. The ledger contains the following accounts: Cash, Accounts Payable, Accounts Receivable, and Sales Revenue. The ledger is balanced at the end of each month. What is the purpose of the self-balancing ledger system?

Answer Options

Correct Answer A. To ensure that the ledger is always balanced
B. To simplify the process of preparing financial statements
C. To reduce the risk of errors in the ledger
D. To increase the speed of preparing financial statements
Correct Answer
A
Correct Option:
To ensure that the ledger is always balanced

About This Question

This is Post Utme Ims U 2018 Accounting Question 19. It is one of the objective questions from the 2018 Post Utme Ims U Accounting examination.

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