Intro of Control Account

How many types of control account?

• 1

• 4

• 2

• 6

Control account are _______ account in the __________ __________

What is the other name for sales ledger control account?

• Sales Journal

• Trade receivable Control account

• Purchase ledger

• Trade payable Control account

Purpose on control account is to keep _____ of details and a correct _______ in company's financial statement.

In sales ledger control account there's return _______ and discount _______.

Control account is part of double entry system.

• True

• False

The balance is on the debit side of sales ledger, means credit suppliers owes the business money.

• True

• False

What is other name for purchase return?

• Return inward

• Receipt

• Return outward

• Invoice

In sales ledger control account credit customers is on the _____ side.

In purchase ledger control account credit purchase is on the ________ journal.