The Accounts Payable account in the general ledger controls the accounts payable ledger.

Name: The Accounts Payable account in the general ledger controls the accounts payable ledger.
Brand: Quizplus
Rating: 4.8 (42 reviews)

Question

Quizplus · Accepted Answer

This statement is true. The general ledger controls the accounts payable ledger, which shows all outstanding bills and payments due to suppliers and vendors. The Accounts Payable account in the general ledger summarizes this information and is used to track the company's total liabilities for outstanding payables.

The Accounts Payable Account in the General Ledger Controls the Accounts