A separate account for each material is found in a
A) general ledger
B) materials ledger
C) receiving report
D) job cost sheet

Question

Quizplus · Accepted Answer

A materials ledger is a subsidiary ledger that contains a separate account for each type of inventory item or material. It provides detailed information about the quantity and value of materials received, issued, and on-hand. The general ledger contains summary information about all transactions, while the receiving report is a document used to verify the receipt of goods. The job cost sheet is used to accumulate costs for a specific job or project.

A Separate Account for Each Material Is Found in a