A Subsidiary Ledger Is a Listing of Individual Accounts That

question 55

True/False

A subsidiary ledger is a listing of individual accounts that contains detailed information on specific accounts in the general ledger.

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Definitions:

Safety Deposit Box

A secure container, typically held within a bank vault, used to store valuable possessions or documents.

Codicil

A supplemental document that modifies, explains, or revokes a will or part of a will.

Bequest

Personal property left in a will. Also called legacy.

Durable Power of Attorney

A legal document that grants a person the authority to make decisions on behalf of another person in financial or health matters, continuing in effect even if the grantor becomes incapacitated.