A General Ledger Should Be Arranged in the Order in Which

question 160

True/False

A general ledger should be arranged in the order in which accounts are presented in the financial statements, beginning with the statement of financal position accounts.

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Definitions:

Proscriptions

Rules or laws that forbid certain actions or behaviors.

Crowd

A temporary gathering of people in a public place; members might interact but do not identify with each other and will not remain in contact.

Aggregate

A collection or sum of many individual elements, items, or variables often used in the context of data analysis or statistics.

Category

A class or division of people or things regarded as having particular shared characteristics or attributes.