Which Account Is Least Likely to Have a Subsidiary Ledger

question 98

Multiple Choice

Which account is least likely to have a subsidiary ledger?

• A)sales
• B)accounts receivable
• C)fixed assets
• D)inventory

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Definitions:

Fixed Maturity

Refers to financial instruments like bonds or loans that have a specified repayment date.

Subsidiary Company

A company that is completely or partially owned and controlled by another company, known as the parent company.

Parent Company

A corporation that owns enough voting stock in another firm to control management and operations.

Held-to-Maturity Securities

Investment securities that a company has the intent and ability to hold until a specified maturity date.