Which of the following is known as the base for preparing trial balance? A. Journal B. Cash account C. Ledger account D. Balance Sheet

Journal
Cash account
Ledger account
Balance Sheet

The correct answer is: C. Ledger account

A ledger account is a detailed record of all the transactions that affect a particular asset, liability, equity, revenue, or expense account. It is the base for preparing a trial balance, which is a list of all the accounts in a ledger and their balances. The trial balance is used to verify that the debits and credits in the ledger are equal.

A journal is a chronological record of all the transactions that occur in a business. It is the first step in the accounting process. The journal entries are then posted to the ledger accounts.

A cash account is a record of all the cash receipts and disbursements of a business. It is a subledger of the general ledger.

A balance sheet is a financial statement that shows the assets, liabilities, and equity of a business at a specific point in time. It is prepared at the end of each accounting period.

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