A Subsidiary Ledger That Contains a Separate Account for Each

question 18

Multiple Choice

A subsidiary ledger that contains a separate account for each supplier (creditor) to the company is a(n) :

• A) Controlling account.
• B) Accounts receivable ledger.
• C) Accounts payable ledger.
• D) General ledger.
• E) Special journal.

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Definitions:

Income Distributions

Payments made to investors from the earnings derived from the investments within a fund, such as dividends or interest payments.

Rate of Return

The earnings or losses experienced with an investment over a specific duration, depicted as a percentage of the investment's original expense.

Net Asset Value

The total value of all the securities held by a mutual fund or ETF, minus any liabilities, divided by the number of shares outstanding.

Year-End Assets

The total value of all assets an entity owns at the end of an accounting period or fiscal year.