Author Question: Which of the following statements regarding revenue subsidiary ledgers is false? A. The number of ... (Read 75 times)

saliriagwu · **on:** Jul 5, 2018

Which of the following statements regarding revenue subsidiary ledgers is false?

A. The number of revenue subsidiary ledgers necessary is at the discretion of management.
B. The number of revenue subsidiary ledgers used is limited by the number of broad revenue categories (e.g., taxes, licenses and permits, intergovernmental) that a governmental entity reports.
C. Entries to revenue subsidiary ledgers may be made at any time during a fiscal period.
D. Revenue subsidiary ledgers are never required.

Question 2

Accounts payable are accounts that you expect will be paid to you.
a. True
b. False

Indicate whether the statement is true or false