Which of the Following Is True of a Control Account

question 41

Multiple Choice

Which of the following is true of a control account?

• A)It is a valuation account from which balances are added to another account.
• B)Its balance equals the sum of the balances in a group of related accounts in a subsidiary ledger.
• C)It is equivalent to a contra account and represents the offsetting nature of debits and credits on a firm's financial statements.
• D)It holds individual accounts that support a general ledger account.

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Definitions:

Serotonin

A neurotransmitter involved in emotional arousal and sleep; deficiencies of serotonin have been linked to eating disorders, alcoholism, depression, aggression, and insomnia.

Emotional Arousal

The process of becoming mentally and physically activated with emotions, which can be triggered by thoughts, memories, or external events.

Gamma-aminobutyric Acid

A neurotransmitter in the brain that plays a key role in reducing neuronal excitability throughout the nervous system.

Endocrine System

A network of glands in the body that secrete hormones directly into the circulatory system to regulate the body's growth, metabolism, and homeostasis.