True/False
The general rule for posting is that the controlling account is debited periodically for an amount equal to the sum of the debits to the subsidiary ledger, and is credited periodically for an amount equal to the sum of the credits to the subsidiary ledger.
Correct Answer:
Verified
Correct Answer:
Verified
Q63: Account balances in the General Ledger and
Q64: The Purchases Journal is used for<br>A) Recording
Q65: An Accounts Payable subledger is<br>A) A subsidiary
Q66: A special journal is any journal used
Q67: An MIS is designed to<br>A) Ensure reliable
Q69: Accounting information systems<br>A) Collect and process data
Q70: The Accounts Receivable ledger is<br>A) Used for
Q71: The general rule for posting to a
Q72: The MIS is a subsystem of the
Q73: Items posted from the General Journal carry