Control accounts help to verify the arithmetic accuracy of the postings from the
Subsidiary books into the trial balance
Ledger into the trial balance
Journals into the ledgers
Subsidiary books into the ledgers
Correct answer is D
No explanation has been provided for this answer.
keeping records under the single entry system has the advantage of
Quality in terms of records
Completeness in terms of records
Accuracy in terms of operation
Simplicity in terms of operation
Correct answer is D
No explanation has been provided for this answer.
Draw up the statement of affairs
Draw up a T-account to establish the amount
Compare the journal entries with the cash book
Cross-check the cash book for further information
Correct answer is A
No explanation has been provided for this answer.
In an incomplete record system a trading account cannot be prepared until the
Day book has been balanced
Amount of personal drawings has been established
Cash book has been balanced
Amount as sales and purchases has been established
Correct answer is D
No explanation has been provided for this answer.
In a control account, discount received is found on the
Debit side of the purchase ledger control account
Debit side of the sales ledger control account
Credit side of the purchase ledger control account
Credit side of the sales ledger control account
Correct answer is A
No explanation has been provided for this answer.