A Record That Contains Detailed Information on Specific Accounts with a Common

question 98

Multiple Choice

A record that contains detailed information on specific accounts with a common characteristic and is support for a controlling account is a(n) :

• A) All-purpose ledger.
• B) Subsidiary ledger.
• C) Special ledger.
• D) General ledger.
• E) Column balance ledger.

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Definitions:

Special Order

A customer request for goods or services that are not part of a company's standard offerings, often requiring unique production or procurement efforts.

Variable Selling

denotes the costs that vary directly with the level of sales, such as commissions or shipping charges.

Administrative Costs

Expenses related to the general administration of a business, such as salaries of executive staff, office supplies, and utilities.

Target Costing

A pricing approach where a company determines the potential selling price of a product and then subtracts desired profit to arrive at a target cost, subsequently focusing on reducing manufacturing costs to meet this target.