Is Ledger a book of original or secondary entry?

State whether the following statements are ‘True or False’ with reasons. Ledger is a book of original entry. This statement is False. Ledger is a book of final/secondary entry, as all the transactions from journal are to be transferred to ledger in their respective account.

What is a ledger book?

The ledger book contain all accounts viz. assets, liabilities, incomes or gains, expenses or losses, owner’s capital and owner’s equity. The ledger is the book of final entry and hence is a permanent record. There is a systematic way in which transactions are posted into a ledger account.

What is a black ledger book?

Record financial transactions and other essential information with this black ledger book. The cover is black with a burgundy spine and corners to provide a professional appearance, while the numbered pages, indexed letters and tabbed design make it easy to navigate.