The accounting ledger – meaning.

A ledger is a set of accounts. It contains all the accounts of a specific business enterprise. It may be kept in any of the following two forms:

(i) Bound ledger and

(ii) loose-leaf ledger

A bound ledger is kept in the form of a book that contains all the accounts. These days it is common to keep the ledger in the form of loose-leaf cards. This helps in posting transactions particularly when the mechanized system of accounting is used.

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