A Subsidiary Ledger Is ________

question 42

Multiple Choice

A subsidiary ledger is ________.

• A) an accounting journal designed to record a specific type of transaction
• B) a created list of accounts used by a business entity to define each class of items for which cash is spent or received
• C) a complete record of business transactions recorded in a ledger over the life of a company
• D) a record of accounts that provide supporting details on individual balances, the total of which appears in a general ledger account

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Definitions:

Statement of Purpose

A written document that outlines an individual's intent or objective, often used in academic or professional contexts.

Analytical Reports

Detailed examinations of data or information to identify trends, patterns, or insights, often used to inform decisions or strategies.

Potential Markets

Describes segments or groups of consumers that a business has not yet served but could potentially engage and sell its products or services to.

Due Diligence Reports

Comprehensive assessments conducted to evaluate the business’s legal, financial, and operational status before entering into an agreement or transaction.