What is the purpose of subsidiary ledgers? Select one: a. Provide supporting details on groups of accounts b. Provide credit balances only c. Provide supporting details on individual accounts d. Provide debit balances only

What is the purpose of subsidiary ledgers? Select one: a. Provide supporting details on groups of accounts b. Provide credit balances only c. Provide supporting details on individual accounts d. Provide debit balances only

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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Q: What is the purpose of a subsidiary ledger?

Question

What is the purpose of subsidiary ledgers?

Select one:

a. Provide supporting details on groups of accounts

b. Provide credit balances only

c. Provide supporting details on individual accounts

d. Provide debit balances only

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