Which of the following is the controlling account in the general ledger when using a voucher system?
A) Common Stock
B) Accounts Payable
C) Accounts Receivable
D) Vouchers Payable

Question

Quizplus · Accepted Answer

In a voucher system, the controlling account in the general ledger that summarizes the total amount owed to various vendors or suppliers at any point in time is "Vouchers Payable." This account is used to track the amounts to be paid based on the vouchers issued.

Which of the Following Is the Controlling Account in the General