Question

Describe the nature of ledger

Answer 1

Answer:

A ledger is basically a record in which we record transactions of a specific nature. Every ledger relates to a particular person, asset, expense or revenue. ... The most important function of ledgers is to sort individual transactions into separate individual accounts.

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Answer 2

Answer:

Meaning of Ledgers

Explanation:

A ledger is basically a record in which we record transactions of a specific nature. Every ledger relates to a particular person, asset, expense or revenue. For example, most common ledgers show transactions relating to cash, bank, land, building, inventory, salary, capital, debts, etc.