Question

Why ledger is called the 'principal books of accounts ' ?​

Answer 1

Answer:

Ledger is known as a primary book and principal book because it is from ledger balances that trial balance and final accounts are prepared. It is called a secondary book because it is prepared after the journal and on the former's basis. Hence it is subsidiary to the journal

Answer 2

Answer:

Ledger is known as a primary book and principal book because it is from ledger balances that trial balance and final accounts are prepared. It is called a secondary book because it is prepared after the journal and on the former's basis. Hence it is subsidiary to the journal...