The Main Reason for Using Control Accounts and Subsidiary Ledgers

question 38

Multiple Choice

The main reason for using control accounts and subsidiary ledgers is:

• A) to separate the accounting tasks between employees.
• B) to enable more timely and efficient processing.
• C) to allow the manual system to be more easily computerised.
• D) to reduce the number of mistakes in the recording process.

Understand the concept and benefits of digital tools in supply management, such as online catalogs, EDI, e-procurement systems, and extranets.

Comprehend the importance of efficient and effective supply processes and the impact of poor performance on the organization.

Recognize strategies to manage and expedite orders, including understanding of blanket purchase orders and vendor/supplier managed inventory systems.

Identify the significance of internal compliance and trust in the supply process.

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Definitions:

Maintenance

The process of keeping something, such as a machine, building, or software, in good working condition through regular check-ups and repairs.

Support And Security Phase

A stage in the life cycle of software or systems that focuses on providing ongoing maintenance, updates, and protection against security threats.

Malware

Software designed to disrupt, damage, or gain unauthorized access to computer systems.

Incomplete Documentation

Documents or manuals that are lacking necessary information, leading to potential confusion or difficulty in understanding a product or service.