General Ledger Practice Quiz
General Ledger Practice Questions
How well do you know the General Ledger? Try to answer these 5 True or False questions.
The General Ledger is part of the Double-Entry Accounting System.
a) True
b) False
The General Ledger is the main accounting record where all financial transactions are recorded.
a) True
b) False
The General Ledger is divided into two sections. One for the Trial Balance and one for Adjusting Entries.
a) True
b) False
Subledgers are linked to the General Ledger. They're used for detailed tracking of specific accounts.
a) True
b) False
The General Ledger only contains permanent accounts. It doesn't include temporary accounts.
a) True
b) False
Scroll down to see the answers.
General Ledger Practice Question Video
You can also take the practice quiz in this video:
General Ledger Practice Answers
Here are the answers:
a) True. The General Ledger is part of the Double-Entry Accounting System.
a) True. The General Ledger is the main accounting record where all financial transactions are recorded.
b) False. The General Ledger isn’t divided into two sections. It’s a single database that stores a business’s accounts and Journal Entries.
a) True. Subledgers are linked to the General Ledger. They're used for detailed tracking of specific accounts.
b) False. The General Ledger contains both temporary and permanent accounts.
How many did you get right? Tell us your score in the comments below.
General Ledger Cheat Sheet
You can download my General Ledger Cheat Sheet here. It offers an outline of all the key information you should understand.