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Meaning & Definition of Ledger

The term “Ledger” is derived from the Dutch word “Legger” which means to lie/keep. Therefore ledger means a book where the various accounts are kept.

A ledger is a principle book which contains all the accounts to which the transactions are transferred from the book of original entry i.e. from journal, subsidiary books, etc. A ledger is also known as the book of final entry.

According to J.R Batliboi: “The ledger is the chief book of accounts, and it is in the book that all the business transactions would ultimately find their place under their accounts in a duly classified form”.

According to L.C Cropper, “The book which contains a classified and permanent record of all the transaction of a business is called the ledger”.

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