An Organization Will Typically Utilize a Subsidiary Ledger to

question 33

Multiple Choice

An organization will typically utilize a subsidiary ledger to

• A)make sure all debits equal credits
• B)make it easier to handle cash received from customers
• C)keep customer accounts up to date
• D)record customer credit sales outside of the normal double entry system

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Definitions:

Mutual Benefit

An arrangement or action by which all parties involved gain or benefit, commonly used in contexts of legal agreements, business dealings, or cooperative efforts.

Free Market Ethics

Ethical principles that support or relate to the functioning of unregulated markets and the voluntary exchange between parties.

Milton Friedman

An influential American economist known for his advocacy of free markets, limited government, and a pioneering contributor to the fields of economics and statistics.

Social Responsibility

The idea that businesses should balance profit-making activities with activities that benefit society; it involves developing businesses with a positive relationship to the society in which they operate.