The inventory account is a controlling account for the inventory subsidiary ledger that contains a separate record for each separate product.

a. True

b. False

Question

Business

Arden

3 April, 03:59

The inventory account is a controlling account for the inventory subsidiary ledger that contains a separate record for each separate product.

a. True

b. False

+1

Answers (1)

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Nickolas Tanner · Answer 1

True. The inventory account is a controlling account for the inventory subsidiary ledger that contains a separate record for each separate product. A controlling account is where the general ledger corresponds to the newly created ledger. The inventory account keeps track of all inventory that is being used in the store that the accounting is being completed for.

The inventory account is a controlling account for the inventory subsidiary ledger that contains a separate record for each separate product.a. Trueb. False

The inventory account is a controlling account for the inventory subsidiary ledger that contains a separate record for each separate product.

a. True

b. False