An Accounts Payable Ledger Is

question 108

Multiple Choice

An accounts payable ledger is:

• A) A subsidiary ledger that contains an account for each supplier (creditor).
• B) A list of the balances of all the accounts in the accounts receivable ledger that is added to show the total amount of accounts receivable outstanding.
• C) A book of original entry that is designed and used for recording only a specific type of transaction.
• D) The ledger that contains the financial statement accounts of a business.
• E) A subsidiary ledger that contains a separate account for each party that grants both short-term and long-term credit on account to the company.

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Definitions:

Executive Office

The Executive Office of the President is comprised of the immediate staff of the President, as well as multiple levels of support staff who report directly to the President and are responsible for a wide range of tasks and coordination of national policies.

Constitutional Task

A duty or responsibility that is outlined or mandated by a constitution.

Vice President

The second-highest executive officer in a governmental administration, who acts as deputy to the president, with duties and responsibilities that can vary widely depending on the administration.

Tie-Breaking Votes

Refers to votes cast by an additional member, like the Vice President in the US Senate, to break a tie in a decision-making process.