A List of All the Accounts in the Accounts Receivable

question 63

Multiple Choice

A list of all the accounts in the accounts receivable ledger with their balances and the total is a:

• A) Schedule of accounts receivable.
• B) Controlling account.
• C) Subsidiary ledger.
• D) Special journal.
• E) Schedule of accounts.

---

Definitions:

Implied Warranty

A legal guarantee that a product will meet a minimum set of standards of quality and functionality without being explicitly stated.

Breach of Contract

The failure to perform as stated or agreed upon in a contract.

Agency

A legal and business relationship in which one party, the agent, is authorized to act on behalf of another party, the principal, in transactions with third parties.

Principal

In finance, refers to the original sum of money borrowed in a loan, or put into an investment, not including the interest. In a second context, it can refer to the primary party involved in a transaction or the main individual in a business.