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WAEC Financial Accounting 1999 Question 1

Question 1

Correction of Errors and Suspense Account

Errors in the ledger can only be corrected through

  1. A.Journal proper
  2. B.Sales Day Book
  3. C.Purchases Day Book
  4. D.Control Account.
Show the answer and explanation

Answer: A (Journal proper)

Explanation

Corrections of errors are first recorded in the journal proper, then posted to the ledger.