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Junior Martinez
on Nov 12, 2024

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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) general ledger
B) income statement ledger
C) group ledger
D) subsidiary ledger

Subsidiary Ledger

A detailed ledger supporting the summary-level data in the general ledger, used for tracking individual components like customer and supplier balances.

Individual Accounts

Separate financial accounts maintained for different customers, employees, or entities to track transactions distinctly.

Common Characteristic

refers to a shared attribute, quality, or feature among items, individuals, or concepts within a particular group or category.

  • Recognize the purpose and maintenance of subsidiary ledgers.
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Maciej PudlikNov 18, 2024
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