what is the purpose of control accounts? a. used to represent the summary account (total...
90.2K
Verified Solution
Link Copied!
Question
Accounting
what is the purpose of control accounts?
a. used to represent the summary account (total amount) reported on the balance sheet while the subsidiary ledger includes separate accounts for each item
b. used to control the cash flow in the company to remain within appropriate liquidity levels
c. used to summarize the revenue and expenses for the period in order to computer net income
d. used to categorize revenues and expenses into operating versus non-operating items
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
