A single summarizing account in the general ledger, representing all the accounts in a particular subsidiary ledger, is referred to as a
A) response account.
B) summary account.
C) special account.
D) pass-through account.
E) controlling account.
Correct Answer:
Verified
Q31: The _ is the source for preparing
Q32: When goods previously purchased on account are
Q33: A liability account used to record sales
Q34: The account used to record transportation costs
Q35: Freight charges may be
A) listed separately on
Q37: The ledger that provides a separate record
Q38: A major advantage of controlling accounts is
Q39: An account that is used to record
Q40: Chandler Company bought goods from Lisel Company,
Q41: Jackson Co. sold merchandise on account to
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