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pentagon
23 days ago
11

2-1.3 Which of the following statements about data storage is (are) true? A chart of accounts is a list of the numbers assigned

to each general ledger account. A general ledger contains detailed level data for every asset, liability, equity, revenue, and expense account. A general journal is used to record a large number of repetitive transactions. A subsidiary ledger contains detailed data for any general ledger account with many individual subaccounts. e)A specialized journal is used to record infrequent or non-routine transactions.
Business
2 answers:
Katen [3.5K]23 days ago
8 0
A general ledger consists of comprehensive data for every asset, liability, equity, revenue, and expense account. It serves as an accounting reference that compiles details on all related accounts, facilitating the preparation of financial statements and simplifying transaction analysis across various accounting records.
Katen [3.5K]23 days ago
4 0
The chart of accounts represents a compilation of numerical identifiers assigned to each general ledger account. In contrast, a subsidiary ledger encompasses detailed records for any general ledger account containing multiple individual subaccounts.
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