The Institution of Education Is Responsible for the Transmission of All

question 28

Multiple Choice

The institution of education is responsible for the transmission of all of the following except

• A)knowledge.
• B)skills.
• C)values.
• D)social introduction.

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Definitions:

General Ledger Control Accounts

Accounts used to summarize the total balances of several subsidiary accounts, facilitating the reconciliation and reporting process.

Subsidiary Ledgers

Detailed ledgers that contain information supporting accounts listed in the general ledger, such as details on accounts receivable, accounts payable, etc.

Subsidiary Ledgers

Detailed records that contain information about specific accounts, which together support and reconcile with summary amounts in the general ledger.

Daily Postings

The routine process of recording transactions in the books of accounts or ledgers on a daily basis to ensure financial records are up-to-date.