Question

A group of subsidiary accounts associated with a particular general ledger control account is called a:

a)subsidiary journal
b)control ledger
c)subsidiary ledger

Answer 1

A group of subsidiary accounts linked to a main ledger account is known as a subsidiary ledger. It provides detailed information supporting the general ledger's summarized balances.

Step-by-step explanation:

A group of subsidiary accounts associated with a particular general ledger control account is called a subsidiary ledger.

The subsidiary ledger is a set of detailed accounts that support the balances indicated in the primary accounting records, which are known as the general ledger.

For example, a company’s general ledger might show the total accounts receivable for all customers, but the corresponding subsidiary ledger would contain individual customer account details, showing each customer’s balance and transaction history.