Which of the following statements is CORRECT?

Multiple Choice

• The general ledger contains the accounts that are used to prepare the financial statements.

• Some companies use the general ledger instead of a general journal.

• When entries are posted from the general journal to the general ledger, the account number is written in the Posting Reference column in the general ledger.

• When entries are posted from the general journal to the general ledger, the page number is written in the Posting Reference column in the general journal.