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In the field of accounting, a ledger refers to a book or computer file that is used for recording and summarizing financial transactions categorized by account. The ledger comprises a beginning balance, debits, credits, and an ending balance.

The ledger plays a fundamental role in the accounting process, as it enables businesses to keep track of their financial activities, including expenses, revenues, and assets. It provides a comprehensive view of the company's financial position and helps in preparing accurate financial statements such as the balance sheet, income statement, and cash flow statement.

Overall, a ledger is a critical component of the accounting system and is essential for maintaining accurate financial records and ensuring compliance with accounting standards and regulations.

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