passwella.
Menu

WAEC Financial Accounting 2009 Question 44

Question 44

Control Accounts

Which of the following is a self-balancing account?

  1. A.Trading Account
  2. B.Appropriation Account
  3. C.Assets Account
  4. D.Control Account
Show the answer and explanation

Answer: D (Control Account)

Explanation

A control account summarises a whole ledger, which makes that ledger self-balancing.