Multiple Choice
A control account ________.
A) does not appear on the balance sheet
B) has a balance that equals the sum of the balances in a group of related accounts in a subsidiary ledger
C) is equivalent to a contra account and represents the offsetting nature of debits and credits on a firm's financial statements
D) holds individual accounts that support a general ledger account
Correct Answer:
Verified
Correct Answer:
Verified
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