A General Ledger Account That Summarises the Detail Maintained in Subsidiary

question 13

Multiple Choice

A general ledger account that summarises the detail maintained in subsidiary records is called a:

• A) master account.
• B) special account.
• C) key account.
• D) control account.

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Definitions:

Compromise

Compromise is a negotiation strategy where conflicting parties make concessions to reach a mutually acceptable agreement.

Agreed-on Guidelines

Rules or principles that have been accepted by all parties involved, typically meant to guide actions or standardize procedures.

Core Characteristic

The fundamental or defining feature, attribute, or quality of something or someone.

Effective Teams

Effective teams are groups of individuals who work collaboratively towards a common goal, characterized by strong communication, mutual respect, and a high level of productivity.