Post Utme Wellspring University 2018 Accounting Question 21

Practice objective / multiple choice question 21 from the 2018 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2018 Accounting Objective / Multiple Choice
Question 21 POST_UTME_WELLSPRING_UNIVERSITY • 2018 • ACCOUNTING • objective

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

Answer Options

A. To record and classify transactions
B. To prepare the trial balance
Correct Answer C. To ensure the ledger is balanced at the end of each month
D. To prepare the financial statements
Correct Answer
C
Correct Option:
To ensure the ledger is balanced at the end of each month

About This Question

This is Post Utme Wellspring University 2018 Accounting Question 21. It is one of the objective questions from the 2018 Post Utme Wellspring University Accounting examination.

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