Financial Accounting MCQs

‘It’ is a control account maintained in the general ledger which records transactions of individual customer’s accounts in a summarized manner. Here ‘It’ stands for

April 25, 2022

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‘It’ is a control account maintained in the general ledger which records transactions of individual customer’s accounts in a summarized manner. Here ‘It’ stands for

Q. ‘It’ is a control account maintained in the general ledger which records transactions of individual customer’s accounts in a summarized manner. Here ‘It’ stands for

A. General Reserve A/c

B. Sundry Creditors A/c

C. Sundry Debtors A/c

D. Both b & c

Answer: Sundry Debtors A/c

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‘It’ is a control account maintained in the general ledger which records transactions of individual customer’s accounts in a summarized manner. Here ‘It’ stands for

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‘It’ is a control account maintained in the general ledger which records transactions of individual customer’s accounts in a summarized manner. Here ‘It’ stands for

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