The General Ledger: Quiz Time
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How well do you know the General Ledger? Try to answer these 5 true or false questions.
1. The General Ledger is part of the Double-Entry Accounting System.
2. The General Ledger is the main accounting record where all financial transactions are recorded.
3. The General Ledger is divided into two sections. One for the Trial Balance and one for Adjusting Entries.
4. Subledgers are linked to the General Ledger. They're used for detailed tracking of specific accounts.
5. The General Ledger only contains permanent accounts. It doesn't include temporary accounts.
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