Accounting software traditionally uses two different types of files.The file type that is relatively permanent and used to maintain the detailed data for each major process is a(n):
A)General Ledger
B)Master File
C)Transaction File
D)Subsidiary File

Question

Quizplus · Accepted Answer

The Master File is a type of file in accounting software that maintains relatively permanent and detailed data for each major process, such as vendor or customer data. The General Ledger is a type of file that summarizes all financial transactions in one place. The Transaction File is a file that contains all the individual transactions that occur within a specific period of time. The Subsidiary File is a supporting file that contains detailed information about a specific account or process. Therefore, the best choice is B, Master File.

Accounting Software Traditionally Uses Two Different Types of Files