what are control accounts in accounting??​

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Answer 1

In accounting, the controlling account is an account in the general ledger for which a corresponding subsidiary ledger has been created. The subsidiary ledger allows for tracking transactions within the controlling account in more detail.


Related Questions

Situational variables that cause one style of leadership to be more effective than another are also called:

Answers

Answer:

leadership style and situational favorableness

Explanation:

a web retailer has received several negative social media reviews over the past few weeks due to missed shipments of product. which reason for why control is needed does this best demonstrate?

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This situation shows that control is needed to discover irregularities and errors.

We can arrive at this answer because:

A well-established control that evaluates the functioning of a business is essential for the success of an enterprise.That's because the control allows all defective elements of any sector of the company, which may be presenting errors and irregularities, to be quickly detected.This allows these defects to be resolved and eliminated quickly, ensuring a smooth running of the project and high quality of service.

In this case, we can say that a good control system could have identified the problems with the shipments and solved the problem before the customers were dissatisfied.

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Why is it necessary to have a W-2 or 1099 form when using tax preparation software?

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It is necessary to have these forms because they would help to report income that is gotten by a person that are not through employment.

The 1099 helps to record the amount that is earned by a person who is not employed.

The 1099 helps to calculate either the dividends that a person gets through the fact that they own stocks or the interests that they accrue from keeping their money in the bank.

The W-2 is used by employers to record the income of their employees. The W-2 also tells the employee the amount of taxes that was withheld from their pay.

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Managers, across industries, spend about _____% of their time in verbal interaction. Group of answer choices 25 33 50 95 75

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The average time which managers, across industries, spend in verbal interaction is:

E. 75%

According to the given question, we are asked to find out the average time which managers, across industries, spend in verbal interaction between themselves and other subordinates.

As a result of this, we can see that based on the research done by Deirdre Borden, they made us of qualitative method of interviews, surveys, polls, etc to come to the conclusion that the average time spent is about 75%.

Therefore, the correct answer is option E.

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A business is having trouble keeping up with the competition. They cannot
respond to their customers like the competition. Which type of system will
likely be able to help them solve this issue?
O A. Management communication system
B. Management information system
O C. Transaction processing system
D. Decision support system

Answers

Answer:a

Explanation:

Manage communication system

When did Lillie allow an external company access to her credit report specifically for an auto loan? 5/10/2015 6/5/2015 12/15/2016 5/10/2017

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The question is about when Lillie allowed an external company to its credit report.

Lillie received a request by Toyota Financials for her credit report access on 5/10/2015 for an auto loan approval.

She provided the access on 5/10/2017 since the date of removal for this inquiry is 5/10/2017. There is a delay in providing access to the financials of about 2 years.

Lillie allowed access to the external company, Toyota Financial to her credit reports in order to satisfy the company about her financial position and grant her an auto loan.

The correct answer is 5/10/2017.

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When the federal reserve announces that it is increasing the federal funds rate, it is actually going to ___________.

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The federal funds rate is commonly described as the target interest rate that has been fixed by the Federal Open Market Committee (FOMC). When the federal reserve announces that it is increasing the federal funds rate, it is actually going to sell bonds on the open market until the federal funds rate rises the new target.

The target interest rate is often the rate at which commercial banks do borrow and lend their excess reserves to one other.

The FOMC often meets eight times a year so as to set the standard federal funds rate.

The Federal government announces a new federal funds rate. It takes place through buying or selling bonds to influence interest rates. fed do sells bonds, and as a result the bond prices fall and interest rates rise.

Full question below

When the federal reserve announces that it is increasing the federal funds rate, it is actually going to ___________.

A. Require that banks pay higher interest rates to each other

B. Change the law on the federal funds rate

C. Buy bonds on the open market until the federal funds rate rises to the new target

D. Sell bonds on the open market until the federal funds rate rises the new target

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true false Stocks, or equity securities, represent the purchase of ownership in a business corporation.

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It is true that stocks or equity securities represents the purchase of ownership in a business corporation.

Stocks is also called (equity securities) and refers to the security that represents the ownership of a fraction of the corporation.

These fraction of ownership are owned by the Shareholders who wishes to own a share of the company.

So, these shareholder are paid dividend depending on how the company performs in the accounting year.

Therefore, it is true that stocks or equity securities represents the purchase of ownership in a business corporation.

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bank of america’s provides information such as its interest expense, or the interest the bank paid depositors, and its interest income, or the interest it earned by investing deposits over a period of time. this document also states the bank’s other revenues and expenses for the time period.

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The information such as interest expense, the interest that the bank paid depositors, interest income, etc illustrates the income statement

Income statement simply means a financial statement that shows the income and the expenditure of a company.

An income statement is also vital as it shows a business how profitable it was for a particular period. The information provided by the bank such as its interest expense, or the interest the bank paid depositors shows the income statement.

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_____ is designed to serve the needs of a specific department, such as sales, marketing, or finance.

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Data mart is designed to serve the needs of a specific department, such as sales, marketing, or finance.

the ________ step in the selling process is often stressful for salespeople, since one of the possible outcomes is that the salesperson goes away empty-handed.

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Based on marketing strategy, the Closing the sale step in the selling process is often stressful for salespeople, since one of the possible outcomes is that the salesperson goes away empty-handed.

Closing the sale step is one of the steps in the sales process that salespeople use to market their products.

Closing the sale step includes various steps such as the following:

Carrying out pre-sale research. Meeting and greet. Ask for the sale.Follow-up.

Hence, in this case, it is concluded that the correct answer is "Closing the sale."

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what is the name of the honor society for students in the ivy college of business?

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The name of the honor society for students in the Ivy college of business is the Cardinal Key Honor Society.

The Cardinal Key Honor Society is simply a national organization for the students in American colleges and universities.

The honor society for students in the Ivy college of business is the Cardinal Key Honor Society. The Cardinal Key Honor Society is for the people who are seen as leaders in the college and community. They are also seen as potential leaders in the future.

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Which sales tactic offers potential customers the opportunity to try a product or service before they make a buying decision

Answers

Trial period of a product or service such as 7 days free with the option to cancel within the 7 days or continue the service

Tangible assets are first recorded at ______. Multiple choice question. current market value or resale value the amount of cash paid for them all costs to acquire them and prepare them for use cost minus residual (or salvage) value

Answers

Tangible assets are first recorded at costs to acquire them for use.

Tangible assets are  fixed assets which is  referred to as the physical assets which a company/Buisness owns to carry out its daily activities in order to create profit .

They include investments, cash, inventory, vehicles, office equipment, buildings,machines, etc

Tangible assets are very important to businesses  as they

Help in business operations  to provide goods and servicesServe as collateral for loansIn case of emergency, they can generate cash

Tangible assets are first recorded in the balance sheet as costs to acquire them for use.

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C&a+sold+30%+of+the+5000+items+that+it+carried+last+week. +there+were+500+items+for+which+some+demand+was+not+satisfied. +what+is+the+in-stock+probability+for+last+week?.

Answers

Answer:

.............

Explanation:

..................

According to the new classical critique of fiscal policy, an increase in government spending today will lead to what change in current savings

Answers

In accordance with the new classical critique of fiscal policy in today's world, an increase in government spending will lead to an increase in current savings.

Fiscal policy refers to a economic policy whereby governments seeks to stabilize the economy by manipulating the levels and allocations of taxes and government spending.

The new classical critique of fiscal policy states that an increases in government spending and decreases in taxes are largely offset by increases in savings.

Therefore, in conclusion, In accordance with the new classical critique of fiscal policy in today's world, an increase in government spending will lead to an increase in current savings.

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Marla is a buyer at a major corporation. Although she is authorized to make purchasing decisions on her own, she often seeks the input of trusted colleagues before settling on a decision. What type of buying center does Marla participate in

Answers

Answer:

Consultative

Explanation:

I did this question

1. Which product type (coffee/ espresso/ herbal tea/ tea) yields the maximum profit in each market size(major/small)? (2 points).

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Coffee is the maximum profit

A major goal of the Social Security Act of 1935 was to provide WHICH of the following guaranteed?
A. Medicare
B. Education
C. Income
D. Automobile Care

Answers

the answer is b i think

What is globalization in business.

Answers

Answer:

the increase in the flow of goods, services, capital, people, and ideas across international boundaries.

If you buy a one-year bond for $4,000 and the issuer pays you back $5,000 at the end of one year, the interest rate on the bond is

Answers

Answer:

25 percentage

Explanation:

if 4000 is equal to 100 percent what about one thousand the rate is equal to 25 percentage

the single most important output in preparing financial budgets is the

Answers

Answer:

cash budget

Explanation:

Intensity pertains to the amount of effort being invested in an activity. Group startsTrue or False

Answers

Answer:

true

Explanation:

what was the primary motivator for corporate giving, according to the national bureau of economic research?

Answers

Philanthropy is the primary reason for corporate giving, according to National Bureau of Economic Research.

Philanthropy shows that a corporation or business promotes the welfare of other people, by the establishment of regular charitable donations or creations of funds.  Philanthropy can be demonstrated by a corporation that makes out employee time to undertake mentoring and community development activities.

Thus, the art of corporate giving is motivated by philanthropic reasoning than political or religious.

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Common stock's par value ______. (Check all that apply.) Multiple select question. has become less meaningful because states use other means to prevent stockholders from removing capital from financially distressed companies equals the amount of cash contributed by shareholders was introduced to prevent bankrupt companies from unfairly distributing company resources affects how common stock is recorded

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Considering the available options, Common stock's par value "has become less meaningful because states use other means to prevent stockholders from removing capital from financially distressed companies."

Also, Common Stock's par value "was introduced to prevent bankrupt companies from unfairly distributing company resources."

Again, Common Stock's par value "affects how common stock is recorded."

Generally, Common stock's par value is the amount or price of stock shown on the bond certificate. It is usually between $0.10 to $0.01.

Hence, in this case, it is concluded that the correct answer is options A, C, and D.

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Most financial securities have some level of ________ risk. Multiple Choice unsystematic asset-specific diversifiable industry systematic

Answers

Based on financial analysis, Most financial securities have some level of asset-specific risk.

This is because asset-specific risk is a type of risk that is unique and common to financial securities.

Asset-specific risk is often referred to as Asset-backed risk, which, like any other financial risk, concerns the tendency of losing money.

Other types of risks associated with financial securities include the following:

Credit risk, Liquidity risk, Foreign investment risk, Equity riskCurrency risk

Hence, in this case, it is concluded that the correct answer is "Asset-specific risk."

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A corporate bond pays interest on a J/J 15 schedule. An investor purchasing these bonds on Friday, April 17, would pay accrued interest for A) 95 days. B) 92 days. C) 91 days. D) 96 days.

Answers

The corporate bond, which pays interest on a J/J 15 schedule, means that the investor purchasing the bonds on Friday, April 17, would pay accrued interest for D) 96 days.

Each month of a corporate bond contains 30 days. If the corporate bond is for three months, then six additional days are given, making it a total of 96 days (30 x 3 (+ 6 days).

Thus, the investor's accrued interest would be for 96 days.

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yield management is a method used to match demand and supply capacity constrained services true false

Answers

Answer:

variable pricing strategy

Yield management is a variable pricing strategy, based on understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, time-limited resource (such as airline seats or hotel room reservations or advertising inventory).

Explanation:

If the reserve ratio is 20%, and the money supply increases by $100,000 because of open-market operations, then the Federal Reserve made a purchase of $_____ in Treasury bills.

Answers

Answer:

$20,000

Explanation:

This is Pete's PPC curve for staying in touch with friends via phone vs. his weblog during one week. Pete plans to write four entries to his weblog. How many
conversations with friends can he have to efficiently use his time?
OO
01
04
06

Answers

To efficiently use his time, the number of conversations with friends Pete can have is 4.

The Production possibilities curve shows the different ways goods and can be combined so resources are fully utilised. The PPC is concave to the origin.

Points on the curve indicate efficient production.  Point outside the curve or to the right of the curve means that the production level is not attainable given the level of resources . Points inside the production possibilities curve means that the nations resources are not being fully utilised.

If Pete wants to write 4 blog entries, trace the 4 on the y-axis to the curve and trace it to the x-axis. Based on this, Pete can have 4 conversations with friends.

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