QUESTION 12 Which of the following is incorrect concerning subsidiary ledgers? The purchases ledger is a common subsidiary ledger for creditor accounts. An advantage of the subsidiary ledger is that it permits a division of labor in posting. The accounts receivable ledger is a subsidiary ledger. A subsidiary ledger is a group of accounts with a common characteristic.

Which of the following is incorrect concerning subsidiary ledgers? The purchases ledger is a common subsidiary ledger for creditor accounts. An advantage of the subsidiary ledger is that it permits a division of labor in posting. The accounts receivable ledger is a subsidiary ledger. A subsidiary ledger is a group of accounts with a common characteristic