CREDITORS CONTROL ACCOUNT Definition

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CREDITORS CONTROL ACCOUNT reflects the total amount owed to all the individual creditors. The balance of the creditors control account must equal the total of the creditors list, which represents the amounts owed by the individual creditors obtained from the individual balances in the various subsidiary ledger accounts for each creditor. This subsidiary ledger is known as the creditors ledger.

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CONCENTRATION RISK is the risk that an investor will suffer from lack of diversification, investing too heavily in one industry, one geographic area or one type of security.

EA is Enrolled Agent (IRS designation).

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