True or False: Business owners should use the General Ledger for making business decisions.

The assertion that business owners should use the General Ledger for making business decisions is fundamentally true. The General Ledger serves as a comprehensive record of all financial transactions within a business, providing a detailed view of its financial status. It contains accounts for assets, liabilities, equity, revenues, and expenses, making it an essential tool for monitoring financial health.

When making strategic business decisions, owners can refer to the insights derived from the General Ledger. For example, it helps in analyzing financial performance, understanding cash flow, and identifying trends over time, which are crucial factors in planning and forecasting.

In context, saying that business owners should not use the General Ledger for making decisions overlooks the value it provides in developing an informed understanding of a company's financial activities. Therefore, the assertion is, in fact, considered true by many financial professionals who recognize the importance of accurate and timely financial data in decision-making processes.