Questions

1. Signify the item that represents an example of a controlling account.

a) The accounts receivable general ledger account

b) The cash receipts journal

c) A journal entry

d) A list of all general ledger accounts

e) The sales journal

2. Signify the item that most accurately and completely describes a controlling account.

a) A subsidiary ledger

b) A special journal

c) The general journal

d) A general ledger account whose balance is supported by a subsidiary ledger

e) A general ledger account whose balance is supported by a special journal

3. Signify the item that most accurately and completely describes the benefits of using special journals.

1. Special journals completely eliminate the need to post journal entries to ledger accounts
2. Special journals provide supporting detail for controlling accounts
3. Special journals allow journal entries to be accumulated and posted to ledger in summary
4. Special journals completely eliminate the need for a general journal
5. Special journals completely eliminate the need for subsidiary ledgers

4. Signify the item that represents an example of a subsidiary ledger.

1. The accounts receivable general ledger account
2. An accounts payable journal entry
3. Supporting detail of individual vendor balances that comprise the total balance of accounts payable
4. A list of all general ledger accounts
5. A list of all controlling accounts

5. Signify the item that most accurately and completely describes a subsidiary ledger.

1. A controlling account
2. Supporting detail behind a general ledger account
3. Supporting detail behind a special journal
4. A special journal
5. A journal entry