What do you call the collection of all accounts and transactions for a business?
Question: What do you call the collection of all accounts and transactions for a business?
The collection of all accounts and transactions for a business is called the general ledger. The general ledger contains all of the accounts used by a business to record its financial transactions, including assets, liabilities, equity, revenue, and expenses. It provides a complete record of a company's financial activity and is used to prepare financial statements such as the balance sheet and income statement. The general ledger is typically maintained using accounting software or manually using pen and paper or spreadsheets.
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