Which report would an advisor go to if they wanted to see every transaction that occurred in the simulation for a given year?

Which report would an advisor go to if they wanted to see every transaction that occurred in the simulation for a given year?

• A. Data Verification Report
• B. Ledger Report
• C. Cash Flow Report
• D. Income Tax Report

Answer: (B)

The key idea here is that the Ledger Report serves as the complete, chronological record of every financial entry posted during a period. When an advisor wants to see all transactions that occurred in the simulation for a given year, the Ledger Report is the one to pull because it lists each debit and credit across accounts, with dates and amounts, for that year. It provides the full audit trail of how balances changed step by step, which is exactly what you need to review every transaction that took place.

This differs from other reports in purpose. A Data Verification Report checks that data is accurate and complete but doesn’t present the full transactional history. A Cash Flow Report shows the timing and total inflows and outflows but doesn’t list every individual posting. An Income Tax Report aggregates items relevant for tax purposes, not the entire list of transactions. So for a complete view of all activities in a specific year, the Ledger Report is the best fit.