Post Utme Noun 2021 Accounting Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Noun Accounting examination.

Post Utme Noun 2021 Accounting Objective / Multiple Choice
Question 3 POST_UTME_NOUN • 2021 • ACCOUNTING • objective

A company uses the double entry system of accounting. What is the purpose of the ledger account?

Answer Options

A. To record all the transactions of the company
B. To classify the transactions of the company
C. To summarize the transactions of the company
Correct Answer D. To provide a permanent record of the company's financial position
Correct Answer
D
Correct Option:
To provide a permanent record of the company's financial position

About This Question

This is Post Utme Noun 2021 Accounting Question 3. It is one of the objective questions from the 2021 Post Utme Noun Accounting examination.

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