Write the Word or Phrase That Best Completes Each Statement

question 67

Multiple Choice

Write the word or phrase that best completes each statement or answers the question.
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Definitions:

Account Category

A classification for financial transactions that helps in organizing and reporting them in the financial statements, such as assets, liabilities, equity, revenues, and expenses.

Accounts Receivable Subsidiary Ledger

A detailed record that tracks individual balances owed by customers, supporting the total accounts receivable balance listed on the general ledger.

Accounts Payable Subsidiary Ledger

A detailed ledger breaking down accounts payable into individual supplier accounts, assisting in tracking what is owed to each creditor.

Adjustment Subsidiary Ledger

A detailed ledger that contains adjustments or modifications to accounts, used to support the primary accounting records.