Control Accounts
Quiz
•
Business
•
12th Grade
•
Medium
Rachel Collier
Used 12+ times
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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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