A Subsidiary Ledger Is

question 68

Multiple Choice

A subsidiary ledger is

• A) used in place of the general ledger if the general ledger is destroyed or stolen.
• B) a group of accounts used by branches and subsidiaries of a corporate business.
• C) a group of accounts with a common characteristic that provides detailed information about a control account in the general ledger.
• D) used to post excess transactions if a general ledger account becomes full during an accounting period.

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Definitions:

Export

The sale of goods or services from one country to another.

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A graphical representation that shows the maximum possible output combinations of two goods that can be produced with available resources and technology.

Specialization And Trade

An economic concept where individuals or entities focus on producing a limited scope of goods or services to trade for other goods or services rather than trying to produce everything themselves.

Law Of Increasing Opportunity

The principle that the opportunity cost of producing a good increases as more of that good is produced, reflecting trade-offs in resource allocation.