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WAEC Financial Accounting 2001 Question 24

Question 24

Control Accounts

The Purchases Ledger Control Account is also referred to as

  1. A.Total Creditors Account
  2. B.Total Debtors Account
  3. C.Cash Account
  4. D.Personal Account.
Show the answer and explanation

Answer: A (Total Creditors Account)

Explanation

It totals all the creditors' accounts in the purchases ledger.