Which of the Following General Ledger Accounts Will Have a Subsidiary

question 13

Multiple Choice

Which of the following general ledger accounts will have a subsidiary ledger account?

• A) Cost of Goods Sold account
• B) Work-in-Process Control account
• C) Joe's Accounts Receivable subsidiary account
• D) Operating Expenses account

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Definitions:

New Shares

Securities that represent ownership in a corporation, issued to the public for the first time.

Stock Splits

A corporate action that increases the number of a company's shares by dividing each share, which typically decreases the share price but does not change the overall market capitalization.

Shareholders' Equity

The residual interest in the assets of a company after deducting its liabilities, representing ownership interest in the company.

Liquidity

The ease with which an asset can be converted to cash without affecting its market price.