An Accounts Payable Ledger Is

question 108

Multiple Choice

An accounts payable ledger is:

• A) A subsidiary ledger that contains an account for each supplier (creditor).
• B) A list of the balances of all the accounts in the accounts receivable ledger that is added to show the total amount of accounts receivable outstanding.
• C) A book of original entry that is designed and used for recording only a specific type of transaction.
• D) The ledger that contains the financial statement accounts of a business.
• E) A subsidiary ledger that contains a separate account for each party that grants both short-term and long-term credit on account to the company.

---

Definitions:

Industrial Revolution

A period of major industrialization from the late 18th to early 19th century that transformed primarily agrarian societies into industrialized and urban ones.

England

A country that is part of the United Kingdom, sharing land borders with Scotland to the north and Wales to the west, known for its rich history, cultural landmarks, and as the birthplace of the English language.

Steam Engine

An engine that uses steam, produced by boiling water, to generate mechanical power, a key innovation of the Industrial Revolution.

Industrial Revolution

The transition to new manufacturing processes in the period from about 1760 to between 1820 and 1840, which involved the move from hand production methods to machines and the rise of factory systems.