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:

Scope

The region of a program where a defined variable or function is accessible.

Space

In computing, it refers to the amount of digital storage or memory capacity, or the blank character used in text.

Automatic Local Variables

Variables declared within a function or block, automatically allocated upon entry into the block and deallocated when exiting, with lifetimes limited to that block.

Reserved

Refers to identifiers or words in programming languages that are used by the language itself and therefore cannot be used as names by the programmer.