The sum of the subsidiary ledger balances must equal the balance in the control account in the general ledger.

Name: The sum of the subsidiary ledger balances must equal the balance in the control account in the general ledger.
Brand: Quizplus
Rating: 4.9 (27 reviews)

Question

Quizplus · Accepted Answer

The subsidiary ledgers provide detailed information about transactions that are summarized in the control account in the general ledger, so their balances must equal the balance in the corresponding control account to maintain accuracy in the accounting records.

The Sum of the Subsidiary Ledger Balances Must Equal the Balance