FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

Which of the following is incorrect regarding subsidiary ledger?
a. The accounts receivable ledger is a common subsidiary ledger
b. An advantage of the subsidiary ledger is that it permits a division of labor in posting
c. The purchases ledger is a common subsidiary ledger for creditor accounts
d. A subsidiary ledger is a group of accounts with common characteristics

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