The Balance of a Control Account in the General Ledger

question 109

Multiple Choice

The balance of a control account in the general ledger

• A) must always be zero.
• B) must equal the amount of total assets.
• C) is always greater than the composite balance of individual accounts in a related subsidiary ledger.
• D) must equal the composite balance of individual accounts in a related subsidiary ledger.

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Definitions:

Pairwise Majority Voting

A voting system in which each option is compared head-to-head with every other option, with the option winning the most direct comparisons being considered the overall winner.

Condorcet Paradox

A situation in social choice theory where collective preferences can be cyclic (not transitive) despite the transitive preferences of individual voters.

Majority Rule

A decision-making principle where the preferences or decisions supported by more than half of the participants are adopted.

Transitive Preferences

A condition in decision-making where if an individual prefers option A over option B and prefers option B over option C, then the individual also prefers option A over option C.