General ledger is also referred to as: A. main ledger B. extra ledger C. nominal ledger D. All of the above E. None of the above

The correct answer is: D. All of the above

A general ledger is a book or computer file that contains all of the accounts used to track a company’s financial activity. It is also known as a main ledger, nominal ledger, or central ledger.

The general ledger is the foundation of a company’s accounting system. It is used to track all of the company’s financial transactions, including income, expenses, assets, liabilities, and equity. The general ledger is also used to prepare financial statements, such as the income statement, balance sheet, and cash flow statement.

The general ledger is divided into two main sections: the balance sheet accounts and the income statement accounts. The balance sheet accounts track the company’s assets, liabilities, and equity. The income statement accounts track the company’s income and expenses.

Each account in the general ledger has a unique number. This number is used to identify the account in all of the company’s financial statements. The general ledger also includes a description of each account and the balance of the account at the beginning of the accounting period.

The general ledger is updated on a daily basis to reflect all of the company’s financial transactions. The transactions are recorded in the general ledger by the company’s bookkeeper or accountant.

The general ledger is a critical part of a company’s accounting system. It is used to track all of the company’s financial transactions and to prepare financial statements. The general ledger is also used to monitor the company’s financial performance and to make financial decisions.

Here is a brief explanation of each option:

• A. Main ledger. The general ledger is the main ledger of a company’s accounting system. It is used to track all of the company’s financial transactions.
• B. Extra ledger. The general ledger is not an extra ledger. It is the main ledger of a company’s accounting system.
• C. Nominal ledger. The general ledger is also known as a nominal ledger. This is because it is used to track nominal accounts, which are accounts that are used to track income and expenses.

I hope this helps!