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The general ledger is a book of original entry

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Reference no: EM131138600

Josie Feeney has prepared the following list of statements about the general ledger. 

1. The general ledger contains all the asset and liability accounts, but no owner's equity accounts.
2. The general ledger is sometimes referred to as simply the ledger.
3. The accounts in the general ledger are arranged in alphabetical order.
4. Each account in the general ledger is numbered for easier identification.
5. The general ledger is a book of original entry.

Instructions

Identify each statement as true or false. If false, indicate how to correct the statement.

Reference no: EM131138600

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