Which of the following statements regarding reconciliation accounts are not true?
A)Data are posted directly into them
B)Data are automatically posted into them after they are posted to the corresponding sub-ledger
C)The reconciliation account includes the sum of the postings of the sub-ledgers.
D)None of the above

Question

Which of the following statements regarding reconciliation accounts are not true? 
A)Data are posted directly into them
B)Data are automatically posted into them after they are posted to the corresponding sub-ledger
C)The reconciliation account includes the sum of the postings of the sub-ledgers.
D)None of the above

Quizplus · Accepted Answer

Data are not posted directly into reconciliation accounts. Reconciliation accounts act as a link between the main general ledger and the sub-ledgers, and they include the sum of the postings of the sub-ledgers after they are automatically posted into them.

Which of the Following Statements Regarding Reconciliation Accounts Are Not