Every Controlling Account Must Have Its Own

question 109

Multiple Choice

Every controlling account must have its own:

• A)junior ledger.
• B)general ledger.
• C)subsidiary ledger.
• D)general journal.

---

Definitions:

Foreign Exchange Rates

The price of one currency in terms of another, determining how much of one currency can be exchanged for another in the foreign exchange market.

Nation'S Currency

The legal tender issued by a country's central bank or government, serving as the medium of exchange within the country.

Exports And Imports

Goods and services sold to other countries (exports) and goods and services purchased from other countries (imports).

Net Transfers

The difference between the total amounts of transfers received and the total amounts of transfers paid out by an individual, household, or country.