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Accounting
1. The vertical flow distributes information in the form of instructions, quotas, and budgets. Group of answer choices True False   2. A subsidiary ledger is a group of control accounts which provides information to the managers for controlling the operations of the entity. Group of answer choices True False   3. It is common to establish a control account and subsidiary ledger system for inventory. Group of answer choices True False

1. The vertical flow distributes information in the form of instructions, quotas, and budgets. Group of answer choices True False   2. A subsidiary ledger is a group of control accounts which provides information to the managers for controlling the operations of the entity. Group of answer choices True False   3. It is common to establish a control account and subsidiary ledger system for inventory. Group of answer choices True False

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. The vertical flow distributes information in the form of instructions, quotas, and budgets.

Group of answer choices
True
False
 
2. A subsidiary ledger is a group of control accounts which provides information to the managers for controlling the operations of the entity.
Group of answer choices
True
False
 
3. It is common to establish a control account and subsidiary ledger system for inventory.
Group of answer choices
True
False
 
4. Special journals are used to record unique transactions.
Group of answer choices
True
False
 
5. Which of the following is not a document present in a revenue cycle
Group of answer choices
Packing slip
Sales Order
d. Supplier invoice
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