Question on: SS1 Accounting - Steps To Extract Balances From A Ledger Account

What is the purpose of extracting balances from a ledger account?

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A

To identify the account type

B

To determine the balance of the account at a specific point in time 

C

To review the transactions that have been recorded in the ledger account

 

D

To increase the balance of the account

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Correct Option: B

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