With Regard to Accounts Receivable,a Separate Account for Each Customer

question 63

Multiple Choice

With regard to Accounts Receivable,a separate account for each customer is kept in a(n) :

• A)control account.
• B)subsidiary ledger.
• C)general ledger.
• D)control ledger.

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Definitions:

Marginal Revenue

The supplementary income generated through the sale of one extra unit of a good or service.

Output

The total amount of goods or services produced by a company, industry, or economy in a given period.

Marginal Cost

The increase in cost that arises from producing one additional unit of a good or service.

Marginal Revenue

The additional income generated from selling one more unit of a good or service.