Customers' Individual Accounts Included in a Subsidiary Ledger Are Said

question 55

Multiple Choice

Customers' individual accounts included in a subsidiary ledger are said to be controlled by the Accounts Receivable account in the:

• A)accounts payable ledger.
• B)accounts receivable ledger.
• C)controlling ledger.
• D)general ledger.

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Definitions:

Responsibility Centres

Units or departments within an organization for which managers are responsible for controlling costs, generating revenue, or managing investments.

Design

This involves creating a plan or convention for the construction of an object, system, or measurable human interaction, taking into account aesthetic, functional, and many other considerations.

Non-Value-Added Activities

Non-value-added activities are processes or endeavors that do not contribute to the customer's perceived value of a product or service, often targeted for elimination in efficiency efforts.

Time Drivers

Factors that measure the amount of time required to perform an activity, often used to allocate costs in various accounting methods.