The Accounts Payable Account in the General Ledger Is

question 102

Multiple Choice

The Accounts Payable account in the general ledger is:

• A) A controlling account for the subsidiary accounts payable ledger.
• B) The account that controls the purchases journal.
• C) The subsidiary account to the purchases journal.
• D) Part of a special journal.
• E) Part of a subsidiary ledger.

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Definitions:

Operations Participation

The involvement or engagement in the ongoing activities or processes of an organization, project, or system.

Articles of Organization

A document filed with a state governmental entity to legally establish a limited liability company (LLC).

Member-Managed

Describes a management structure in a limited liability company (LLC) where all members (owners) actively participate in the day-to-day operations and decision-making process.

Manager-Managed

A structure typically used in limited liability companies (LLCs) where the management is officially assigned to one or more managers rather than being directed by all members.