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Control Accounts

Authored by Rachel Collier

Business

12th Grade

Used 12+ times

Control Accounts
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The sales ledger control account summarises the totals from the subsidiary accounts in the sales ledger

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where does the information in the VAT Control Account come from?

Subsidiary Ledgers

Books of Prime Entry

Trial Balance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following situations would cause the balance on the PLCA to be higher than the purchases ledger

A payment made to a supplier has been omitted from the PLCA

A payment made to a supplier has been omitted from the purchases ledger

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following situations would cause the balance on the sales ledger to be higher than the SLCA

A sales invoice has been entered twice in the SLCA

A sales invoice has been entered twice in the sales ledger

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

On which side of the SLCA do returned cheques go?

Debit

Credit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

On which side of the bank do customer returned cheques go?

Debit

Credit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the double entry to record an irrecoverable debt?

Debit: Irrecoverable debts

Credit: SLCA

Debit: SLCA

Credit: Irrecoverable debts

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