Subsidiary ledgers

A) are used only for Accounts Payable and Accounts Receivable
B) may be used for various general ledger accounts
C) may be used only for the cash account
D) are never used for more than four accounts

Subsidiary Ledgers

Detailed records that contain information about transactions supporting the amounts reported in one or more general ledger accounts, helping to maintain financial accuracy and provide detailed transactional reports.

General Ledger Accounts

General ledger accounts encompass the complete set of financial accounts and records used by a company to keep track of its financial transactions and prepare financial statements.

Accounts Receivable

Financial obligations of customers towards a business for delivered but unsettled goods or services.