Which Account Is Least Likely to Have a Subsidiary Ledger

question 98

Multiple Choice

Which account is least likely to have a subsidiary ledger?

• A)sales
• B)accounts receivable
• C)fixed assets
• D)inventory

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Definitions:

Cell Phone

A Cell Phone is a portable telephone that can make and receive calls over a radio frequency link while the user is moving within a telephone service area.

FOB Shipping Point

The shipping process in which the buyer pays transportation charges for goods, the title for which passes to the customer when the goods are loaded onto the shipping vehicle.

Buyer

A person or organization that acquires goods or services, often in exchange for money.

Shipping Costs

Expenses associated with the transportation of goods from one location to another, typically borne by the seller or the buyer as specified in sales terms.