When the Sum of All Entries in the Subsidiary Ledger

question 71

Multiple Choice

When the sum of all entries in the subsidiary ledger equals the balance in the corresponding general ledger account,it is assumed that

• A)the recording processes were accurate.
• B)all source documents were recorded.
• C)adjusting entries are not required.
• D)no errors exist in the subsidiary ledger.

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Definitions:

Sweeteners

Substances added to food or beverages to enhance sweetness, which can be natural or artificial.

Market Share

The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales.

Same Market

Pertaining to the scenario where buyers and sellers engage in transactions involving the same goods or services within a specific area or sector.

Coke

A carbon-rich solid material derived from coal used primarily as a fuel in the smelting of iron ore.