A General Ledger Should Be Arranged in Financial Statement Order

question 46

True/False

A general ledger should be arranged in financial statement order beginning with the statement of financial position accounts.

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Definitions:

State Legislature

The lawmaking body within a state, responsible for creating legislation and policies governing the state.

Illegal

Activities or actions that are prohibited by law and subject to penalties.

Requirement

A requirement refers to a condition or specification that must be met or complied with.

Effective

Having the intended or expected result or coming into force.