Question

multiple choice question
a(n) ____ is maintained for each financial statement item, whereas a(n) ____ contains all of the accounts of the company.
o account; general ledger
o general ledger; journal
o account; journal
o journal; general ledger

Explanation:

In accounting, an account is maintained for each financial - statement item to record transactions related to that item. The general ledger contains all of the accounts of the company, providing a comprehensive record of all financial activities. A journal is a chronological record of transactions, not what contains all company accounts or is maintained for each financial - statement item.

Answer:

A. account, general ledger