Which of the following best describes a ledger that contains all accounts needed to prepare financial statements?

Differentiate between the options: Subsidiary ledger contains detailed information for specific accounts (e.g., accounts receivable or accounts payable). Trial balance is a summary of all ledger accounts to check the accuracy of debits and credits. Chart of accounts is a list of all account names and numbers used in the accounting system.

Recognize the purpose of the general ledger: The general ledger consolidates all financial data from subsidiary ledgers and other sources, making it the foundation for preparing financial statements.