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Subsidiary Ledger
A ledger containing individual accounts with a common characteristic.
Control Account
A general ledger account that summarizes the total amounts recorded in various subsidiary ledgers for easier and consolidated reporting.
Accounting System
A comprehensive process of collecting, recording, classifying, and summarizing financial information for business transactions.
Feedback
Measures provided to operational employees or managers on the performance of subunits of the organization. These measures are used by employees to adjust a process or a behavior to achieve goals. See management by exception.
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