Multiple Choice
A major advantage of controlling accounts is that their use makes it possible to reduce the number of
A) entries in subsidiary ledgers.
B) columns in special journals.
C) accounts in the general ledger.
D) all of these.
E) none of these.
Correct Answer:

Verified
Correct Answer:
Verified
Q5: The entries in a purchases journal are
Q6: The account that is debited for every
Q7: Chandler Company bought goods from Lisel Company,
Q8: When goods are shipped FOB shipping point,
Q9: Debiting the Sales Returns and Allowances account
Q11: For the following account titles, indicate if
Q12: The purchases journal is used for the
Q13: Generally, the Accounts Receivable controlling account will
Q14: Assume the general ledger Accounts Receivable controlling
Q15: Jackson Company uses the perpetual inventory system.