Describe the relationship between the general and subsidiary ledgers.
Describe the relationship between the general and subsidiary ledgers.
Homework Answers
Answer:
The general record contains synopsis level data about each benefit, risk, value, income, and cost account in an association. The balances all in all record accounts frame the beginning stage for arrangement of fiscal summaries and different other money related reports.
An auxiliary record account offers help for any broad record represent which individual sub accounts (for instance, money due, creditor liabilities, stock, and settled resources) are required.
The backup record records and keeps up the detail-level data by having a different record for every client, seller, stock thing, or settled resource. The aggregate of the backup record adjusts should square with the equalization in the general record account.
A general record account that compares to a backup record account is known as a control account.
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Describe the relationship between the general and subsidiary
ledgers.
The relationship between subsidiary ledgers and general ledgers account constitutes part of the audit trail
The relationship between subsidiary ledgers and general ledgers account constitutes part of the audit trail
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