Answer :
Available options are:
A. A record containing increases and decreases in a specific asset, liability, equity, revenue, or expense item.
B. A journal in which transactions are first recorded.
C. A collection of documents that describe transactions and events entering the accounting process.
D. A list of all accounts a company uses with an assigned identification number.
E. A record containing all accounts and their balances used by the company.
Answer:
E. A record containing all accounts and their balances used by the company.
Explanation:
The reason is that ledgers contains all the information related to the accounts balances which also includes the account type, name of the accounts, balances, changes in the balances, date of occurrence of the transactions and their relevant changes. This data can be accessed by opening the ledger records. So the only option correct here is option E because it is not a part of journal, documents and isn't list of accounts of business. Furthermore it is also not the recording of specific element of assets or elements of financial statements.