The Accounts Payable Controlling Account

question 69

Multiple Choice

The Accounts Payable controlling account:

• A)Is not included in a company's chart of accounts.
• B)Stores the transaction data of individual supplies.
• C)Reduces the number of entries in the general journals.
• D)Equals the sum of all balances of supplier accounts.
• E)Increases the number of columns in the journals.

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Definitions:

Marginal Costs

The change in total cost that arises from producing one additional unit of a product or service.

Break Even

The point at which total costs and total revenue are equal, resulting in no net loss or gain for the business.

Fixed Costs

Expenses that do not change with the level of goods or services produced within a certain range.

Technology B

This term is too generic to define without more context, as it could refer to any second or alternative technology in a specific domain or comparison.