Which of the Following Is True of an Accounts Receivable

question 48

Multiple Choice

Which of the following is true of an accounts receivable subsidiary ledger?

• A)It does not include a receivable account for each customer,but includes a cumulative account for all customers.
• B)It contains information about the amount each customer purchased on credit,but excludes the customer name.
• C)The total of the accounts in the accounts receivable subsidiary ledger must equal the accounts receivable balance in the general ledger.
• D)Companies keep an accounts payable subsidiary ledger that is entirely different from the accounts receivable subsidiary ledger.

Understand the concept of time value of money and its applications.

Calculate the present value and future value of annuities, both ordinary and due.

Determine the required savings to meet future financial goals.

Calculate the value of perpetuities and understand their relevance.

---

Definitions:

Familial Carcinogenesis

The process by which cancer is caused or influenced by genetic factors passed down in families, increasing the risk of developing certain types of cancer.

Mobility Problems

Challenges or limitations faced by an individual in moving around effectively, often due to physical disabilities or health conditions.

Memory Loss

describes the unusual forgetfulness where one may have difficulty remembering events, information, or experiences.

Arsenic

A chemical element with toxic properties, used historically in pesticides and various industrial applications.