Question 13 of 22
Q.Main objective of preparing ledger accounts is to :
(a) Ascertain the profit or loss and the financial position
(b) Ascertain the financial position
(c) Know the balance of each ledger account
(d) Ascertain the profit or loss
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2023MCQ· 1mImportance★★★★★
59% · 13/22 Questions
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Start your 14-day free trial to unlock the full solution →The main objective of preparing ledger accounts is to know the balance of each account, so the answer is (c).
The ledger is the principal book where all transactions relating to a particular account (a person, asset, expense or income) are brought together at one place by posting from the journal and subsidiary books. When each account is balanced, it reveals the net balance — for example, how much a customer owes or how much cash is on hand.
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