Every Subsidiary Ledger Must Have Its Own

question 3

Multiple Choice

Every subsidiary ledger must have its own:

• A)control account.
• B)subsidiary account.
• C)general account.
• D)general ledger.

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Definitions:

Working Agreement

A mutual understanding or an informal contract among members of a team about the standards, procedures, and responsibilities they agree to follow.

Proposals

Plans or suggestions put forward for consideration by others with the aim of initiating action or discussion.

Discrepancies

Instances of lack of agreement or consistency between facts, figures, or claims.

Table of Contents

A section of a document listing the chapters, sections, and the pages on which they start.