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WAEC Financial Accounting 2012 Question 33

Question 33

Control Accounts

The Sales Ledger Control Account is also referred to as

  1. A.Bought Ledger Control Account
  2. B.Purchases Account.
  3. C.Total Debtors Account.
  4. D.Total Creditors Account.
Show the answer and explanation

Answer: C (Total Debtors Account.)

Explanation

The sales ledger control account summarises all debtors' accounts, so it is also called the Total Debtors Account.