A Major Advantage of Controlling Accounts Is That Their Use

question 10

Multiple Choice

A major advantage of controlling accounts is that their use makes it possible to reduce the number of

• A) entries in subsidiary ledgers.
• B) columns in special journals.
• C) accounts in the general ledger.
• D) all of these.
• E) none of these.

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Definitions:

Bucket

A bucket is a cylindrical or slightly tapered container, typically made of plastic or metal, used for carrying, storing, or mixing liquids or solids.

Fixed Order Quantity

A specific, constant quantity of items ordered each time an order is placed, typically used in inventory management to replenish stock.

EOQ

Economic Order Quantity is a formula used in inventory management to determine the optimal order size that minimizes the total holding costs and ordering costs.

Time Fences

A means for allowing a segment of the master schedule to be designated as “not to be rescheduled”.