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WAEC Financial Accounting 2010 Question 17

Question 17

Control Accounts

The balance in a Sales Ledger Control Account indicates the

  1. A.difference between debtors and creditors
  2. B.total sales
  3. C.total purchases
  4. D.total debtors
Show the answer and explanation

Answer: D (total debtors)

Explanation

The sales ledger control account summarises all customers' accounts, so its balance is total debtors.