Multiple Choice
A subsidiary ledger is
A) used in place of the general ledger if the general ledger is destroyed or stolen.
B) a group of accounts used by branches and subsidiaries of a corporate business.
C) a group of accounts with a common characteristic that provides detailed information about a control account in the general ledger.
D) used to post excess transactions if a general ledger account becomes full during an accounting period.
Correct Answer:

Verified
Correct Answer:
Verified
Q63: If a company purchases merchandise for cash
Q64: Postings are made daily to the<br>A) Accounts
Q65: The total of the individual account balances
Q66: Which of the following economic events would
Q67: In the expanded purchases journal debits are
Q69: The entries recorded in the Other Accounts
Q70: Special journals are used to record unique
Q71: If a customer takes a sales discount
Q72: A control account and subsidiary ledger can
Q73: When special journals are employed all postings