Match the Items Below by Entering the Appropriate Code Letter

question 10

Short Answer

Match the items below by entering the appropriate code letter in the space provided.
A. Accounts payable ledger D. Subsidiary ledger
B. Cybercrime E. Control account
C. Special journals
1. A general ledger account that summarizes detailed information in a subsidiary ledger.
2. A subsidiary ledger that contains accounts with individual creditors.
3. Involves the Internet or computer technology.
4. Detailed information about a group of accounts with a common characteristic.
5. Used to record high volume, similar type transactions.

---

Definitions:

Preexisting Duty

An obligation that a party is already legally bound to perform, which cannot serve as consideration for a new contract.

Foreseen Difficulty

An anticipated challenge or problem that can be predicted based on current knowledge or trends.

Preexisting Duty

Preexisting duty refers to an obligation that a party is already legally required to perform, which cannot be used as consideration for a new contract.

Past Consideration

Something given or some act done in the past, which cannot ordinarily be consideration for a later bargain.