Which of the following statements is true regarding the balance of a control account?

The correct statement regarding the balance of a control account is that it reflects the combined total of all subsidiary ledgers. A control account is a summary account that provides a total for a specific category, such as accounts receivable or accounts payable, and is used to consolidate the data from multiple subsidiary ledgers. By maintaining a control account, a business can have a clear overview of its total receivables or payables while detailed transactions are recorded in the subsidiary ledgers.

This structure also allows for easier reconciliation and verification of the accuracy of the entries in the subsidiary ledgers. When the control account balance matches the sum of the individual balances in the subsidiary ledgers, it serves as an effective internal control mechanism to ensure the accuracy of the financial records.

In contrast, the other statements do not accurately describe the nature of control accounts. A control account does not have to equal zero; that would only be the case if there are no transactions. It is indeed verifiable with subsidiary ledgers, as the totals of the subsidiary ledgers should correspond to the balance of the control account. Lastly, a control account is highly relevant to subsidiary ledgers since it is essentially derived from and supports them.