Amounts are posted to the Accounts Payable Subsidiary Ledger
A) at the end of the month.
B) daily.
C) when financial statements are being prepared.
D) whenever the accountant has some spare time.

Question

Quizplus · Accepted Answer

Amounts are posted to the Accounts Payable Subsidiary Ledger daily to ensure accurate and up-to-date records of the company's outstanding debts to vendors and suppliers. Waiting until the end of the month or when financial statements are being prepared could result in errors, missed payments, or late fees. Posting transactions as they occur also allows for better cash flow management and forecasting. Posting whenever the accountant has spare time is not advisable as it lacks consistency and prioritization.

Amounts Are Posted to the Accounts Payable Subsidiary Ledger