The General Ledger: Quiz Time

How well do you know the General Ledger? Try to answer these 5 true or false questions.

1. The General Ledger is part of the Double-Entry Accounting System.
2. The General Ledger is the main accounting record where all financial transactions are recorded.
3. The General Ledger is divided into two sections. One for the Trial Balance and one for Adjusting Entries.
4. Subledgers are linked to the General Ledger. They're used for detailed tracking of specific accounts.
5. The General Ledger only contains permanent accounts. It doesn't include temporary accounts.

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[AccountingStuff]

How many did you get right?

ANSWERS ⬇️

1. TRUE - The General Ledger is part of the Double-Entry Accounting System.
2. TRUE - The General Ledger is the main accounting record where all financial transactions are recorded.
3. FALSE - The General Ledger isn’t divided into two sections. It’s a single database that stores a business’s accounts and Journal Entries.
4. TRUE - Subledgers are linked to the General Ledger. They're used for detailed tracking of specific accounts.
5. FALSE - The General Ledger contains both temporary and permanent accounts.

Head to accountingstuff.com for more practice questions like this.

[LqmKim]

I’m not an accounting student, but I scored 5/5 thanks to your videos on your channel 🎉

[shivanandpuranik]

My answers were all right cause I'm following you and watching your videos from the last 5 years. 😊

[alinskyjesusballecer]

4/5 The sections got me 😅 Thanks for this ❤

[ChannelofNathaniel]

5/5! This really boosted my confidence, I’m struggling in my accounting courses rn lol.

[gabrielvasquez]

Thanks to your videos I got them all 🎉

[toobarehman]

Your expressions told the answers already 😂

[Colonel]

6/5 because 1 extra Mark for my speed 🚄

[adityasingh]

I am confused about your 2nd question, I think all transactions are recorded in the Journal then posted into the general ledger account

[IlIlIllllllI]

5/5 1st year accounting student BAM future CA 🗣️🗣️💯🤞