Financial Accounting MCQs

Subsidiary Ledger is classified into

April 25, 2022

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Subsidiary Ledger is classified into

Q. Subsidiary Ledger is classified into

A. Main Ledger and Secondary Books

B. General Ledger: Debtors Ledger, Creditors Ledger

C. Both a & b

D. None of the above

Answer: General Ledger: Debtors Ledger, Creditors Ledger

Subsidiary Ledger is classified into

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Subsidiary Ledger is classified into

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‘It’ is a control account maintained in the general ledger which records transactions of individual customer’s accounts in a summarized manner. Here ‘It’ stands for

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