CBSE BoardEnglish MediumSTD 11 CommerceAccountRecording of Transactions - 11 Mark
Question
Enumerate four advantages of Ledger.
✓
Answer
Advantages of Ledger:
Provides Complete Information of a Particular Account: Completeinformationrelating to a particular account is available at one place in the Ledger.
Information of Incomes and Expenses: In ledger, a separate account is maintainedfor each income and expense. The amount of total income and total expenses isknown from the ledger account.
Preparation of Trial Balance: Ledger helps in preparing Trial Balance whichensures arithmetical accuracy of the transactions recorded in books of account.
Helpful in Preparing Final Accounts: After preparing Trial Balance, Final Accountsare prepared to know the profitability and financial position of the business.
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