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:

Cultural Achievements

The notable contributions and innovations made by a society or community in areas such as the arts, sciences, literature, and technology, reflecting its cultural heritage and identity.

War of 1812

A military conflict fought between the United States and Britain from 1812 to 1815, largely over issues of trade restrictions and maritime rights.

British Army

The principal land warfare force of the United Kingdom, with a history of involvement in numerous international conflicts and colonial administration.

Chesapeake

Relates to the Chesapeake Bay, an estuary in the U.S. states of Maryland and Virginia, important for its role in commerce, navigation, and history, including the slave trade in the colonial period.