How often are postings to subsidiary accounts in a costing system made? At the end of...
How often are postings to subsidiary accounts in a costing system made?
|
At the end of every accounting period. |
|
Monthly. |
|
Daily. |
|
Weekly. |
Homework Answers
The correct answer is "Daily".
Supporting explanations:
As and when transactions are occurred, the journal entries are made in the books of accounts on daily basis and at the same time, the same journal entries are posted to their respective individual ledger accounts on the daily basis in order to match the daily transactions like cash account and other subsidiary ledger accounts.
Therefore, the correct answer is "Daily".
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