A Subsidiary Ledger That Contains a Separate Account for Each

question 18

Multiple Choice

A subsidiary ledger that contains a separate account for each supplier (creditor) to the company is a(n) :

• A) Controlling account.
• B) Accounts receivable ledger.
• C) Accounts payable ledger.
• D) General ledger.
• E) Special journal.

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Definitions:

Administrative Expenses

Costs associated with the general administration of a business, including items like salaries of executives, office supplies, and utilities.

Budgeting

Constructing a scheme to allocate your funds, specifying forthcoming financial ambitions and the tactics to achieve these goals.

Client-visits

The number of times clients visit a business or service center, often used as a metric in customer service and sales industries.

Activity Variance

The difference between the budgeted amount of activity (like hours or units) and the actual amount achieved.