The $\underline {\text { VLOOKUP } }$ Function Searches Vertically Down the First Column of the Lookup

question 80

True/False

The $\underline {\text { VLOOKUP } }$ function searches vertically down the first column of the lookup table for the value you entered,and then retrieves the corresponding value from another column of the table._________________________

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Definitions:

Control Account

An account used in the general ledger to summarize transactions detailed in subsidiary ledgers for efficient reporting and verification purposes.

Subsidiary Ledger

A detailed ledger that contains the transaction details of accounts like accounts receivable or payable, which are summarized in the general ledger.

Controlling Account

A general ledger account that summarizes and controls the totals from various subsidiary accounts.

Subsidiary Ledger

A grouping of individual accounts that provide details to support a general ledger account.