Question
Subsidiary accounts are __________.
posted directly on the financial statements
used to post transactions to specific areas
entered in the main accounts
created externally
posted directly on the financial statements
used to post transactions to specific areas
entered in the main accounts
created externally
Answers
GPT-4o mini
Subsidiary accounts are **used to post transactions to specific areas**.
They provide detailed information supporting the balances in the general ledger, such as accounts receivable or accounts payable. Each subsidiary account corresponds to a specific category or customer, allowing for more granular tracking and reporting of transactions.
They provide detailed information supporting the balances in the general ledger, such as accounts receivable or accounts payable. Each subsidiary account corresponds to a specific category or customer, allowing for more granular tracking and reporting of transactions.