A Control Account ________

question 73

Multiple Choice

A control account ________.

• A) does not appear on the balance sheet
• B) has a balance that equals the sum of the balances in a group of related accounts in a subsidiary ledger
• C) is equivalent to a contra account and represents the offsetting nature of debits and credits on a firm's financial statements
• D) holds individual accounts that support a general ledger account

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Definitions:

Factor Endowments

Refers to the quantity and quality of resources a country or region possesses, such as labor, land, and capital.

World Trade

The exchange of goods, services, and capital between countries and territories across the globe.

Different Sizes

A term denoting a variety in the scale or dimension of objects, entities, or quantities.

Trade

The exchange of goods, services, or both, between two or more parties.