When there are a large number of individual accounts with a common characteristic, it is common to place them in a separate ledger called a (n) a. subsidiary ledger b. general ledger c. group ledger d. income statement ledger

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Business

Pinto

11 July, 04:14

When there are a large number of individual accounts with a common characteristic, it is common to place them in a separate ledger called a (n) a. subsidiary ledger b. general ledger c. group ledger d. income statement ledger

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Amiya West · Answer 1

A) subsidiary ledger

Explanation:

A subsidiary ledger is a group of similar accounts that all together form a general ledger account.

For example, accounts receivable is a general ledger account that is divided into individual accounts for each customer that owes money to the company for goods or services delivered. The sum of all the individual accounts will be the balance of the general accounts receivable.