Accounts of a single type are kept in this ledger.
A) supplemental ledger.
B) additional ledger.
C) subsidiary ledger.
D) None of these answers are correct.

Question

Quizplus · Accepted Answer

A subsidiary ledger is a type of ledger that contains detailed information about a specific group of accounts, such as accounts receivable or accounts payable. These accounts may be too numerous or complex to be recorded in the general ledger, so they are kept in a separate subsidiary ledger. Each subsidiary ledger should have the same format as the general ledger and should be reconciled with the general ledger on a regular basis.

Accounts of a Single Type Are Kept in This Ledger