What Is the Term That Accounting Software Packages Use for Control

question 8

Multiple Choice

What is the term that accounting software packages use for control accounts?

• A) Normal accounts
• B) Chart of accounts
• C) Sub-accounts
• D) Master accounts

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Definitions:

Cumulative Voting

A voting system that allows shareholders to allocate all of their votes to one candidate, enhancing minority shareholders' chances of influencing board election outcomes.

Board of Directors

A group of individuals elected by shareholders to oversee the major decisions and policies of a corporation.

Common Stock

A form of corporate equity ownership, a type of security that represents ownership in a corporation, entitling the owner to a proportion of the company's assets and profits.

Preemptive Rights

Rights given to existing shareholders to purchase additional shares in a company during a new issue before the shares are offered to the public, allowing shareholders to maintain their proportional ownership.