The Accounts Payable Ledger is crucial to which of the following?

A. General Ledger

B. Fundamental Accounting Equation

C. Accounts Receivable Ledger

D. All of the Above

 

Which of the following is the crucial formula to the Balance Sheet?

A. First Accounting Equation

B. Fundamental Accounting Equation

C. Accounting Balance Equation

D. Balance Sheet Formula

Processing Invoices must use which of the following accounting principles ?

A. First In , First Out

B. Last In , Last Out

C. Low Debt Ratios

D. Fundamental Accounting Equation

The subsidiary Accounts Payable ledger is necessary for which of the following reasons ?

A. A more specific way to show how much you owe to each vendor.

B. Giving a complete picture of the company.

C. Publishing a list of all the company's revenue sources.

D. None of the Above