Solved

Which of the Following Statements Is True About Control Accounts

Question 1

Multiple Choice

Which of the following statements is true about control accounts?


A) control accounts are used to control amounts spent during the year
B) control account totals must equal the total of the individual subsidiary accounts
C) control accounts are used to limit the amounts of liabilities incurred during the year
D) control accounts avoid the need for making postings to ledgers.

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents