A Subsidiary Ledger

question 91

Multiple Choice

A subsidiary ledger

• A)is used to record infrequent or non-routine transactions.
• B)simplifies the process of recording large numbers of repetitive transactions.
• C)records all detailed data for any general ledger account that has individual sub-accounts.
• D)contains summary-level data for every account of the organization.

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Definitions:

Alternative Production Techniques

Different methods or processes used in the production of goods and services, often evaluated for their efficiency, cost-effectiveness, or environmental impact.

Economic Loss

Refers to the reduction in total revenue that is greater than the total cost of a business, leading to a negative profit scenario.

Economic Efficiency

A state where resources are allocated in a way that maximizes the production of goods and services while minimizing waste and inefficiencies.