A Subsidiary Ledger Is a Group of Control Accounts Which

question 9

True/False

A subsidiary ledger is a group of control accounts which provides information to the managers for controlling the operation of the company.

---

Definitions:

Legal Fees

The charges for services provided by lawyers or law firms, including consultations, representation in legal matters, and the preparation of legal documents.

Promoter Fees

Charges or expenses paid to an individual or company for organizing and finding investors for a particular project or business venture.

Paid-in Capital

The amount of capital provided by shareholders in exchange for shares of stock during the initial offering or through subsequent stock offerings.

Retained Earnings

The portion of a business's profits not distributed to shareholders but instead reinvested in the business or kept as reserve.