? In AccountingA subsidiary ledgera) Replaces the general ledgerb) Contains only summary entriesc) Provides detailed records supporting a controlaccountd) Is optional in all cases

Explanation of Subsidiary Ledger: A subsidiary ledger is a detailed accounting record that supports…

Answered: In Accounting A subsidiary ledger a)…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter3: Review Of A Company's Accounting System

Section: Chapter Questions

Problem 14GI

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9. Consider Special Reports. What type involves a "different basis of accounting"? a. Agreed-upon-procedures. b. Compliance Report. c. Special Purpose Framework. d. Specified Elements, Accounts.
[Based on Appendix C] Explain the difference between the general ledger and a subsidiary ledger.
A subsidiary ledger is a _________ . a. listing of the components of control account balances b. back-up system to protect against record destruction c. listing of accounts of a subsidiary d. listing of accounts before closing entries
None
The general ledger account that corresponds to a subsidiary ledger account is known as a a. dependent account. b. entity account c. A subsidiary account d. control account e. attribute account
Explain what is meant by the term management by exception (see, for example: www.myaccountingcourse.com/accounting-dictionary/management-by-exception).
is a report generated from the general ledger and cannot be produced independently. 12. The
Which of the following is often called a compensating control?a. transaction authorizationb. supervisionc. accounting recordsd. independent verification
Reconciliations of the General Ledger Control Accounts to the Subsidiary Ledgers are an example of A. Data entry controls B. Output controls C. Logical access controls D. Segregation of duties
Which of the following statements is CORRECT relative to posting with the use of special journals? a. No subsidiary ledger posting is necessary. b. The general ledger posting has to coincide with the subsidiary ledger posting. c. The general ledger posting has to be ahead of subsidiary ledger posting. d. The subsidiary ledger posting has to be ahead of general ledger posting.
Which internal control objective is concerned with ensuring that accumulated totals in the transaction file are correctly transferred to the general ledger and subsidiary ledgers? O classified O summarized O recorded O posted
Which of the following is not a component of an accounting system? the input source documents the output reports the framework for operation of the system All of these answer choices are components of an accounting system.

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In Accounting A subsidiary ledger a) Replaces the general ledger b) Contains only summary entries c) Provides detailed records supporting a control account d) Is optional in all cases