A Subsidiary Ledger Is

question 118

Multiple Choice

A subsidiary ledger is

• A) a journal used by a company to record its transactions with a similar characteristic
• B) a group of accounts, all of which relate to one specific company activity
• C) the entire group of accounts for a company
• D) a record of all the daily activities

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Definitions:

Breached Fiduciary Duty

A violation of the obligation to act in the best interest of another party, often related to situations of trust and confidence.

Profit Made

The financial gain achieved when the amount earned from a business activity exceeds the expenses, costs, and taxes.

Board Of Directors

A group of individuals elected by shareholders to oversee the management and make key decisions for a corporation.

Derivative-Action Provision

A component in corporate governance that allows a shareholder to sue or take legal action on behalf of the corporation, often against directors or management for misconduct.