What file in a computerized accounting system corresponds to a paper subsidiary ledger in a paper-based system?
A) Transaction file
B) Master file
C) Open file
D) Reference file

Question

Quizplus · Accepted Answer

The master file in a computerized accounting system corresponds to a paper subsidiary ledger in a paper-based system. The master file contains detailed information on each account, just like a subsidiary ledger contains detailed information on each account in a paper-based system. The transaction file contains all the transactions that impact the accounts, the open file contains information on all currently open transactions, and the reference file contains information on non-accounting data that may be needed for reference purposes.

What File in a Computerized Accounting System Corresponds to a Paper