Explain what a control account is by completing the following sentence. A control account appears in the general ledger and is supported by information in a separate (general/subsidiary) ledger.

Review the statements below and choose the one that correctly describes a control account.Multiple choice question.A control account is a separate account that is a detailed record of a general ledger account.A control account is updated at the end of an accounting period to reflect the net change in all equity accounts.A control account appears in a subsidiary ledger and is supported by a general ledger account.A control account appears in the general ledger and is supported by a subsidiary ledger.

Explain the function of ledger accounts, including the role of a chart of accounts

State the reasons for maintaining control accounts.

Diversified Dual Bookends Ltd uses a subsidiary ledger and a control account system for its accounts receivable. At the end of the accounting period a listing of customers' accounts is prepared from the subsidiary ledger. The purpose of this listing is to:a.Check the amount that should be posted to the accounts receivable control accountb.Determine whether the debits equal the credits in the subsidiary ledgerc.Prove that the subsidiary ledger agrees with the control accountd.Provide information necessary for trial balance preparatione.all of the aboveselect an answer

Which of the following is not shown for each account within the accounts payable subsidiary ledger?Multiple ChoiceSalesPaymentsReturns and AllowancesAccount Balance