CONTROL ACCOUNT Definition

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CONTROL ACCOUNT is a summary account in the General Ledger that is supported by detailed individual accounts in a subsidiary ledger. See CREDITORS CONTROL ACCOUNT, DEBTORS CONTROL ACCOUNT, and STOCK CONTROL ACCOUNT.

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OFFER PRICE see ASK PRICE.

MONETARY POLICY is U.S. Federal Reserve actions to influence the availability and cost of money and credit as a means of helping to promote high employment, economic growth, price stability and a sustainable pattern of inter­national transactions. Tools of monetary policy include open market operations, adjustments in reserve require­ments and changes in the discount rate.

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