Which of the following statements is true?
A) There is double entry recording in a subsidiary ledger.
B) A business with three credit customers would need to set up an accounts receivable subsidiary ledger.
C) With a manual accounting system, where there is a control account and a subsidiary ledger for debtors, transactions for debtors must be recorded twice.
D) Every business needs to set up special journals for returns transactions.
Correct Answer:
Verified
Q11: _are internal controls established to provide general
Q12: Which of these is not usually an
Q13: How many of these are important
Q14: For which of the following would a
Q15: If the accounts payable subsidiary ledger
Q17: A system of computer processing where transactions
Q18: Which of these is not one of
Q19: The limitation of internal control includes all
Q20: Internal control is defined to include which
Q21: Which of these is not a column
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