Examlex
Which of the following is true regarding privacy rights?
Control Account
An account used in the general ledger to summarize the details of transactions recorded in subsidiary ledgers.
Subsidiary Ledger
A detailed ledger containing all the individual accounts related to a particular area, such as accounts receivable or accounts payable, which supports the totals recorded in the general ledger.
Control Account
A summary account in the general ledger that aggregates the details recorded in a subsidiary ledger for similar transactions, such as accounts receivable or payable.
Total Retained Earnings
The accumulation of a company's net earnings not distributed to shareholders, reinvested in the business.
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