Meaning of Subsidiary Books - SS1 Accounting Past Questions and Answers - page 1
What are subsidiary books?
Books that are used to record general ledger entries
Books that are kept by subsidiaries of a company
Books that are used to record specific types of transactions in a business
Share this question
What is the purpose of subsidiary books?
To replace the general ledger
To allow for the efficient and accurate recording of transactions
To summarize financial statements
Share this question
What is a sales journal?
A book used to record all sales made on credit
A book used to record all cash payments
A book used to record all purchases made on credit
Share this question
What is a cash receipts journal?
A book used to record all cash receipts
A book used to record all cash payments
A book used to record all purchases made on credit
Share this question
What is posting?
The process of analyzing financial statements
The process of summarizing information in the subsidiary books and transferring it to the general ledger
The process of creating subsidiary books
Share this question
What is the difference between a subsidiary book and a general ledger?
Share this question
How does posting help ensure the accuracy of accounting records?
Share this question