Asked by Elyssa Arcibal on Jul 02, 2024
Verified
An advantage of using a subsidiary ledger is that one employee must post to both the subsidiary ledger and the general ledger.
Subsidiary Ledger
A subsidiary ledger is a detailed record that supports the entries recorded in a primary accounting ledger, often used for accounts like accounts payable and receivable.
General Ledger
A comprehensive record containing all financial transactions of a company, used to prepare financial statements.
- Recognize the significance of proper posting and reconciliation processes in manual and electronic accounting systems.
Verified Answer
JB
James Backs6 days ago
Final Answer :
False
Explanation :
One advantage of using a subsidiary ledger is that it allows for the decentralization of accounting tasks, so different employees can be responsible for posting to the subsidiary and general ledgers. This can increase efficiency and accuracy in the accounting process.
Learning Objectives
- Recognize the significance of proper posting and reconciliation processes in manual and electronic accounting systems.